Nathan Mische has posted an awesome article on ColdFire and how it works, along with what to check if it isn't working. Last night at the "Meet the CF Team" Birds of a Feather, someone made the comment that default debug template isn't XHTML compliant. Well, one nice thing about ColdFire is that it doesn't output anything onto the visible portions of your page at all.
As a reminder - the debug templates are all unencrypted CFML. That's how ColdFire was able to take off - I just looked at what was used in the default debugging template and rewrote it for use in Firebug. So if you don't like something about the debug templates - just edit them!