FAST is designed to track and monitor, among other inputs, body movements, voice pitch changes, prosody changes (alterations in the rhythm and intonation of speech), eye movements, body heat changes, and breathing patterns. Occupation and age are also considered. A government source told CNET that blink rate and pupil variation are measured too.
This technology should only be used to say "look here" to assist the people behind the technology. Ideally, this will help a few screeners identify people in a crowd who are behaving abnormally. This 'tech' has been used in security for ages. Only earlier we called it "I have a funny feeling about that guy" and now we can say "this man is suspiciously nervous, and here's the science to show it".
I don't want to get political, but the politically correct method of pure random screening in airports is horribly ineffective. Security professionals in unstable regions know this, which is why they are trained to look for the exact things this device is looking for.
The danger of this technology isn't that it will start issuing arrest warrants based on probable intent. The danger is that the people behind the technology will get it wrong. History shows that we don't need technology to help get it wrong.
Please don't confuse this technology with political positions. Has the TSA gotten out of hand? Sure. Are our rights being violated? Probably in many cases. Does this technology have anything to do with that? That only depends on how it's used.