A complete family of ammo is planned, including armor-piercing, anti-personnel, airburst and point-impact non-lethal rounds.
The HEAB round is a 25mm cartridge with fore and aft explosive warheads, and a mid-body airburst fuse... An operational firing scenario would involve the following: by viewing through the fire control display, the combat user puts the red-dot aim-point on the target, pushes the "Lase" button, realigns the aim-point on the target, and fires...
The range is automatically communicated upon firing to the chambered 25mm round -- and stored in the fuse logic.
Upon muzzle exit, the intelligent fuse, using a turns-counting approach, determines the distance traveled and bursts precisely over the engaged target at the programmed range.
...It leaves the enemy no place to hide.
The entire video is at StrategyPage. And Fox News has a slideshow.