From their blog:

...SVG is a powerful format waiting to be unlocked. It has been proven that SVG does have potential, and we aim to unlock it with the revecter framework.

Although this release is only to demonstrate the core functionality of the framework, rather than a strong implementation, it shows its potential.
The framework provides prototype-esque functionality to nodes, simplifying the process of moving things around as well as other common tasks. Also, it has a powerful animation class, used to provide cross-browser animation, or formerly impossible ones.

Dispite the framework not completely supporting IE at the moment, it plans to soon.

revecter framework