Bishop Dan did a quick writeup on the most recent draft.  (This is a proposed document for defining the relationship between all member churchs of the Anglican Communion, including the Episcopal Church.)  I’d link you, but it’s all here:

I still haven’t digested the document. But it all seems to turn on section 4, the enforcement clause. And apparently the ACC has not approved that except as a discussion document. So the thing really isn’t even on the table yet for voting by anyone. It is more like a motion made so the subject can be discussed. We should therefore discuss — but as in the case of germ fears, don’t panic.