The demo didn't go into much depth but it's Eclipse-based (no surprise) and has some "intellisense" (but it's unclear how it will handle more dynamic code) with RDS-style file system and database browsing.
In some ways, it's really not news - most people expected Adobe to announce this based on the somewhat coy comments Adobe CF staff have been making over the last year at conferences - but at last it's real.
The Labs page has an FAQ and an outline of features. You can sign up for the Bolt pre-release program on Labs too.
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