We now have a few Roms out for the Droid4. We have Cm9 and AOKP thanks to Hashcode. We also have a safe and viable way to flash the roms. Safestrap allows us to dualboot into a Rom for testing without messing with out main stock system. This makes it a heck of alot safer as we can always boot into safestrap recovery and toggle back to the stock system even if we goof something up in the secondary safe system. Above is a video guide to show you how to install a rom via SafeStrap. Whatever you do be careful as we still don't have any fastboot files to recover a stock system incase something were to go wrong. SafeStrap is not very risky since you don't even mess with the main stock rom, but still be very cautious.
Grab Safestrap Roms here!