You are absolutely correct. iferapp.com is the free cloud based application - the self hosted version will come soon :)
I just wanted to post it here and see if this is a good idea at all.
Oh sorry, forgot to mention that this is coming soon. The website shows the free cloud based app. We are seriously thinking of offering a self hosted version for those that can't host their data in the cloud.
We've got an application that is very similar to trello (www.iferapp.com) that we are planning to offer in self hosted mode - we are going into beta very soon.