I'm trying to find some more info about it...
I re-examined the photos you referenced and looked at Elbox's website to gather further information.
The base for the 1200 Dragon system is a replacement bus board similar to their Mediator but with a processor slot and an AGP video slot. An Lattice FPGA is visible on the bus board.
I assume that connection to a 1200 motherboard is similar to a Mediator 1200.
There is little visble on the CPU card except for the two DDR memory slots visble on the back of the CPU card.
The Coldfire processor mentioned is the MCF5475. This is slightly different than the MCF5474 I've seen mentioned in relation to the Atari Coldfire Project.
One thing that becomes apparent is that the Coldfire's main interface with other components is via the PCI bus.
This approach (which suits the Coldfire's inferface) is not similar to other 68K based accelerators.
In order to use this processor a heavily customized OS would be needed.
I'm not sure why some of the photos show AmigaOS 4.0 splash screens. To the best of my knowledge AOS4 makes no use of an Amiga's 68K processor (running all code on the PPC processor).
If I can dig up any further details I'll post them.
Jim
Edit - Looking at the design of this processor, I don't see how it could be incorporated into an Amiga as code that directly accesses legacy hardware locations would not function correctly.