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My main goal was to allow merging without modifying the core BUG files. Merges become difficult when two mods modify the same files. Dr. Elmer Jiggle's CvCustomEventManager went a long way toward easing this process, but it still required you to modify that file. This is no longer the case. All events can be added via separate mod config XML files.
I will write a detailed HOWTO article in the next few weeks. For now, this post has the paper napkin version. For those that are handy with Python and XML, check out the directory CustomAssets/Config for examples on porting your mods over to the new BUG core, creating your own options and INI files processed entirely by BUG, and hooking up your event handlers -- even define new events. All of the mods in BUG have been ported to the new core, so there are several meaty examples to help you started.
For continuing coverage, check out the forum thread.