I know a lot of people are using Font Awesome and I think most people who do will find this new project interesting.
There are various goals and rewards. If he gets funded $200,000 then he will build a custom icon subsetting tool which will allow you to only include the CSS and font icons that your site uses. I think that would be a fantastic feature.
I'm pledging a bit towards the project. If you use Font Awesome at the moment, support the guy who made it and support the next incarnation of the product.