Another aspect of Falcon is adding application-level monitoring. That is, being able to monitor things that your program is doing internally, such as what iteration it is on, how variables are changing, etc. This aspect of Falcon is very stable and functional, but there is little documentation on how to do it and generally you have to write your own display programs. That's not very easy to do, but everything you need to do it is in the Cthreads release mentioned above.
The last aspect of Falcon is program steering, using Falcon to modify things in your program while it is executing. This is not yet available for public release.