This release is based on Ubuntu 12.04 and OpenStack Essex. It's a live-build config code. To build an image install live-build 3.0~a24 is required (can be found in Ubuntu 12.04) and follow these steps:
mkdir cloud-live ; cd cloud-live
bzr branch lp:cloud-live config
sudo lb build
Once building is done, dd binary-hybrid.iso to an USB stick or burn the ISO on the CD. You might opt for customization. This can be done before 'sudo lb build'. In that case follow documentation for live-build.