This isn't Vita CFW. It's the Vita Half-Byte Loader. Wololo and a few other people have been finding various exploits in PSP games to gain PSP-MODE ACCESS ONLY meaning they can launch various homebrew applications that run in PSP-MODE ONLY. The last 2 exploits were removed from the PS Store, however thecobra (a part of Wololo's "team") has found another exploit and they are planning on releasing the game name soon.
NOTE: THIS WILL NOT ALLOW YOU TO PLAY VITA BACKUPS, PSP BACKUPS, OR ANY KIND OF BACKUPS. IT'S LIMITED TO HOMEBREW ONLY, AND NOT ALL HOMEBREW RUNS.