The data schema documentation can be found at github.com/openplacedatabase/utils.
The instructions for running a copy can be found at github.com/openplacedatabase/www.
By Friday we will have data available for download at www.openplacedatabase.org/download.
In addition to weekly snapshots, we have a new public changes API that will allow you to keep your own copy of the data up-to-date. Documentation will be available at github.com/openplacedatabase/www/blob/master/API.md once we get an hour or two to update everything.
This is a huge milestone for us because all of the data for geolocating collections in Find-A-Record is coming from the Open Place Database. We plan on adding a massive amount of place data to Open Place Database over the next few months, and all of it will be available under the Open Database License.
We don't know yet when the data will be open to editing by the public, but we'll be sure to let you know.