We're updating the EULA and policies to be more open. Once it's up, I'll post a message on the site. The absolute last thing we want to do is keep people from trying Effect out.

Indeed. I'm really impressed and intrigued, but I'm a bit wary about doing much of anything serious since I don't know what the terms are, what licensing might be like, etc. Even though it says in the EULA I retain rights of code/assets/etc. I'd really hate to develop something and then have it taken down over payment, or for some other reason.

But from a technical standpoint, it looks very cool - nice work!

Exactly. Lack of licensing details made me wonder what they were trying to hide.