It's an early serverside mod being developed by V~tec and Dziablo, made for TFFA's and to overall replace League Mod (thank goodness)
Some of the features:
Enhanced font (looks bolder as you can see in the video; it's all of the font not just spectator)
Damage plums (can see the damage you give to opponent fly on the screen in a disintegration type of way (appearance is being experimented with). Can also be turned on/off
TeamSize (In order to keep people from interrupting games whether 1v1 or a TFFA match)
g_nokick (cvar that can be set up to 3.. 1 - league mod type damage , 2 - kick and no damage , 3 - completely ignores kicks on opponents)
A new Gametype called Red Rover (works in TFFA format but whoever dies joins the other team and try to eliminate them, if the last person can make a frag then the game is saved. Works nicely with large groups. Usually a 2v2 is rather short in this gametype)
Scoreboard shows overall score, your duel / tffa W/L, and net damage
These are the overall things that are implemented and being worked on more. Once these are all set then other things will happen.
(Plus I'm sure if V~tec sees this post then he will probably say his own version of this since I'm probably forgetting something ^^)