From the Kestrel website:

The Kestrel is a simple 32-bit computer, optimized for home-brew construction. Its goal is simple: to bring the fun back in home and personal computing! The hardware will be fully disclosed to the programmer, so there are no hidden secrets. This puts the full power of the hardware in the hands of the programmer like no other computer on the market today.

Likewise, the included ROM software, an implementation of the Forth programming environment, will simultaneously serve as the machine's default OS and programming language. Forth offers unique capabilities that other languages lack, such as being very easy to learn and develop software in, small size, and exceptionally good performance. Its interactivity literally beckons the user to play with the hardware, which encourages learning, and amplifies the thrill of discovery.

The Kestrel's software and hardware will be released under the GNU Lesser General Public License. This license seems ideal for open hardware developments, since it permits the hardware to be more easily used with other hardware projects, not all of which are going to be as openly documented as the Kestrel.

Kestrel website: http://www.falvotech.com/content/kestrel/