It's pretty old news, found out about it about 2 weeks ago.
Pesonally, i'm excited about it. Waiting for the final version.
Here's some info from the web site:
Skale Tracker (http://www.skale.org) was created for the scene by the scene. our only purpose was to give you the choice to continue tracking as you did with old ms-dos trackers, like fast tracker 2, but with all the features and enhancements of the last-generation windows-based trackers.
-Completely Based on Fast Tracker 2 Environment. If you liked Fast Tracker 2, you will feel like in the same program, but with newer enhancements.
-Full Keyboard Customization
-Support for Stereo Samples, 256 Virtual channeles. NNA's.
-Support for VST Instruments.
-Graphic Track Edition. Set the parameter values with one click.
-Full Midi Support IN/OUT
-FUN GAME and FUN VISUAL to synchronize demos and to play custom games.
-Enhanced Global Mixer and Instrument Mixer to control every parameter of the sounds individually and quickly.
-OLD MS-DOS FULL SCREEN MODE - or WINDOWS Mode
-PERFECT XM Loading (in the Final Version. Some minor effects remain incomplete)
-WAVE OUT Export.
-COMPLETELY FREE FOR THE MASSES.
-And much much much more which will be soon revealed...
edited: whaaaat?? That's extremely strange, the topic's name was "Skale Tracker" but Invision Board changed it to Skaletracker..