I like where it's heading, however right now it's seems like a slightly enhanced scaffolding (I didn't dig too deep, so pardon me if I missed something). I specially like being able to define custom options for each model.
What I'd really like though (and I assume this is the goal with toffee) is a more full blown admin, with some real authentication, an index page with some stats from toffee enabled models, an WYSIWYG editor for text fields and stuff like that. I'd really consider using it for simpler projects if it had all that, else I don't see how it can be very useful. I also like the search function, which is something that scaffolding doesn't give you.
Anyway, just my $0.02, good luck with your plugin!