At this point, that's basically all the detail we know. Community theory is that previous questions about building "abusive" bases (i.e. bases where objects can block off access to certain areas or otherwise stop progress) were really cover for trying to work things out for map designing systems under this feature. Also, it looks like peer review will be the key way the wheat gets sorted from the chaff with regards to mission / story arc development.
We've got no info on mission rewards (if they exist) or if it's customisable at the broad level (pick map; pick enemy; write some key dialogue) or down to the micro level (customisable maps; customisable appearance to some enemies; allow for mission branching and dialogue paths).
More info needs to be released, but tactically it's a brilliant step to head off ChampO (and DC Online, should that bit of vapourware ever appear).
Similar in concept to our character creator, it allows you, the players, to create missions and story arcs for your characters and others to participate in. You'll be able to pick the map, villain group, and objectives, as well as write the dialog and any clues needed for the missions. When you are satisfied with it, you can upload it and have other players across all servers play it and rate it. Fame will come to the players whose stories rate the best overall.
Sounds like Ryzom ring. Not that that is a bad thing.