It was released a little while ago. I've been working with it extensively for the last while. Some examples.
Some notes for when you get started.
Commit is bugged. Don't use it. It doesn't export a chunk of textures and leaves you wondering wtf is going on.
Use Export with "make dds" first (and use this option for previewing). This generates dds files for you. However, it makes an m3 that looks for the local directories on your computer, so it won't work in a map or model you hand to someone else. Use the "Use Mopaq Paths" export option to make an m3 that uses standard sc2 directories. This option does not, however, make the dds files.
Avoid using dds as a source texture. I've had issues with it, and double compression is like double penetration in the same hole.
Everything else is fairly straight forward. It has an object limit, unlike NiN's tools, so some object-intensity models may not export. The documentation is also super barebones and the examples are void of anything actually useful, so anything past the basics is going to be mostly trial and error I guess.
Also, the "have a bindpose at frame 0" is not something to ignore. It's super non-standard, and it's quite necessary.
I've also had bugs with m3a files, so I don't use those. But that may have been some user error with the models I used I couldn't figure out.
Using a stock texture still requires you to import that texture back into your map. Sort of defeats the whole dependency thing, eh bluzzard?
I have some additional bugs and notes in a staff thread I can copy pasta if you are interested.