
The vote occurred just two days ago, and the CREC has already updated their church roster. I think they're thrilled to have them as a "mission church" under "oversight".
Here's an excellent critique of this move. I agree with the critique's spirit -- that eschewing your authorities while facing presbyterian discipline to carve out a new denomination that's a more comfortable fit is a dubious proposition. I do not agree with one conclusion, however, "I say give up on the denominational model and just be Christian for crying out loud!" It is impossible to "just be Christian". The word is not self-defining, and there is no authoritative agreement on what it means. See my critique here, noting that this view is its own creed (so arguably making a formless denomination of its adherents).
At any rate, I don't follow the Federal Vision debate too closely, but closely enough to know that this is big news to the people involved. Pray for Unity! At least they waited for the conclusion of the Week of Prayer for Christian Unity; they missed it by two days.