Currently the project is in the planning stage. If anybody is interested in joining as a developer, get an account on SourceForge, and let me know the account and what you can do, as well as what relevant knowledge you have.
The project will be released under the GPL (At least until I remember it is incompatible with KDE, but IIRC the latest KDE can be used with GPL) and is registered with SourceForge as klj (Because KJournal, the official name, was already taken, but has not even been touched for almost a year)
If you don't wish to contribute, but would like to suggest features to be implemented, visit the SourceForge project and submit a feature request. (Don't worry about categorizing or prioritizing or anything, I'll take care of that, but do be sure to include one feature in each request, and a good explanation of what it is and why you think it should be included)