ColdFire 1.2.158.126
A new version of ColdFire 1.2 has been rolled into the download zip. This version incorporates fixes to the trace.cfm custom tag that happened in the 1.3 branch. If you were using the enhanced tracing feature in 1.2.117.117 or 1.2.117.126 you can simply update your trace.cfm with the version included in this download and you should be good to go.
The problem with earlier version of the trace.cfm tag was that it didn't always fallback to the Adobe version of trace.cfm when it should, particularly if you didn't close your cftrace tag. (i.e. you wrote <cftrace text="hi"> instead of <cftrace text="hi"/>.) This was fixed in the 1.3 branch so I decided to go ahead and put it in the 1.2 release as well.

How do you dump variables to the variables tab? CFDump just pours to the screen as usual. I'm using the new beta which was my first install of ColdFire.
Install.txt:
ColdFire provides a variables tab which allows you to dump variables to
the extension. If you wish to use this feature with an application that
uses the onRequest method of Application.cfc you must extend one of the
Application.cfc components provided in this installation package. Note
that if your application uses onRequestEnd you must call
super.onRequestEnd() as part of your application's onRequestEnd method.
Two Application.cfc components are provided in the coldfusion/appcfc
folder of the installation package, one for ColdFusion MX 7 and one for
ColdFusion 8.
The other method is to use cftrace with the var attribute. In this case you will see variable values in the Trace tab. You can either use CFs built in trace tag which gives you a simplified view of your variable value, or you can override it with the provided trace.cfm (see install.txt) and use the "Enhance Trace" option. The latter will give you output similar to cfdump, only via the cftrace tag.