CNN has the scoop:
The plan recommends seating half of Florida's 210 delegates based on the results of the January 29 primary.
The remaining delegates could be allocated in a number of ways, including evenly, proportionally based on the national popular vote (excluding Florida and Michigan) or proportionally based on the total national delegate count, also excluding Florida and Michigan.
Personally, I think Obama should accept this and should recommend something similar for MI (where he gets all of the "Uncommitted", or 40%, for the first split).
Why? It first, completely removes the "talking points" of MI/FL being "disenfranchised" and second, this would really minimize the damage and make him look good at the same time. If this were adopted in both MI and FL, Clinton would net about 30 delegates from the first half that counted. For the second half of the delegates, assuming the delegate percentage stays roughly even and using RCP's numbers, Obama has about a 6.3% advantage, which translates into about a 12 delegate net for Obama. So, overall it's a net 18 for Clinton. Not a small haul, certainly, but I think one he can afford.
If he accepts and Clinton refuses it, we'll know that all she really cares about is getting the most favorable counts possible from the states. Considering Obama followed the rules and really doesn't have any obligation to do anything here, 18 delegates would be a huge gift to Clinton that she should be happy to take.