This is a special project which stores your IDE configuration. Your configuration is stored as a module called "Config". Editing this file allows you to customize the appearance and behavior of the IDE.
The Fay compiler is used to compile this file to javascript. Once this javascript has been generated, it will be included with the IDE whenever you load it. It will not be loaded for this particular project, though, because it is possible (although unlikely) to configure the IDE such that it can no longer be used to edit the configuration.