I'm not really so sure what makes this an iPhone specific "framework". Its just a safari browser with javascript, except you can only capture click events.
All you really need in order to make a website iPhone "friendly" is keep buttons > 40x40 px and use:
jsjenkins, in software a framework is usually defined as (From Wikipedia):
"...a re-usable design for a software system"
This "framework" encapsulates a lot of iPhone-ish style attributes (like buttons, toolbars, lists, sliding/animation & icons) as well as a good number of webkit's(and mobile safari's) new css / js functions.
Additionally we plan to support:
Gesture Events (this should be iPhone specific enough for you)
Sorry, was just a bit confused when I saw iPhone web application framework because I usually think of involving server-side when I see that term, and from that perspective there is little difference between the iPhone browser and others.
Being able to easily stylize your pages to achieve iPhone-like appearance is definitely very useful.
Looks like a neat framework though.