It is to feature works of MangaFox members, yes. Anyone can watch it or comment on it though.
It features all three sections of Creative Atelier, writing section included.
Well, generally, MangaFox rules cannot apply outside of MangaFox, but there will be some rules of conduct made just to avoid things like flames. You will know more about that when it is written out and announced. We are open for suggestion though as this is a bit more laid-back.
How it works, we intend to add winners and participants of MangaFox CA events to better showcase them and to promote the said events. The group is still a work in progress, but we wanted to have all the members join from the start so everyone could pitch in if they have their own ideas about what we might feature.