Squad traits is a pamphlet adding a simple, but creative and clever mechanic to FIST. The players or referee choose from a list of traits which make the game easier, harder or a bit more unique. It stays true to the feel of traits in the main rules, but with great ideas for how these could impact a group all at once.
The use of art from a field manual fits the vibe and jazzes up the simple and clear layout.
Currently, the layout works better digitally than printed. This isn't a negative, as I think most users will look at it digitally (and it's easier to follow this way round than print-friendly pamphlet layouts!). If you did print it, the page break for telepaths would be a little awkward, and I think the cover might open backwards (but I don't have a printer, so can't check for sure).
I love the idea of Wave Function Expansion, spending war dice to mess with the referee is really cool. However, it might be of limited use as the referee rarely (if ever) rolls dice in the main FIST rules.
Overall, this is a great mechanical addition to a referees arsenal with a lot of potential for people to build on top of.