Though, running may be a bit of a generous description at the moment. The group has gotten webOS running as an app. The software runs slow, very slowly, and is still considered to be in the pre-alpha phase. The reason for the sluggishness is the lack of support for hardware acceleration.
Of course, while we can see that things still need to improve before this can be considered something for more users to play with, it is a nice step up from the previous check-in from Phoenix. If you remember, we first saw details from the folks at Phoenix a few weeks back and at that time, webOS was not able to get passed the lock screen. As of today, and as you will see in the video, the system will fully boot and open past the lock screen.
Anyway, aside from the video, there is not much else in terms of detail just yet. In other words, no expected timeframe for a regular release. That though aside though, once ready for public consumption, Open webOS will show up as an app with a launcher icon.