From what I gather, the projects have quite different goals.
CppFront:
> My specific goal is to explore the question: Can we make C++ 10x safer, simpler, and more toolable if C++ had an alternative "syntax #2," within which we could be completely free to improve semantics by applying 30 years' worth of C++ language experience without any backward source compatibility constraints?
SPECS:
> We propose an alternative text-based syntactic binding (called SPECS) for the existing semantics of the C++ language.
So while SPECS is semantically equivalent to C++ as it is today, CppFront isn't bound by that constraint.
Sutter makes this very clear later in the README:
> Important disclaimer: This isn't about 'just a pretty syntax,' it's about fixing semantics.
Just to be clear, my intent isn't to diminish Conway's work in any way. Both are interesting projects, just with different goals.
CppFront is supposed to be 100% link-compatible with the existing C++ ABI. Even if that isn't "semantically equivalent" in a strict sense, it's so close that it makes no real difference.
[1]:https://users.monash.edu/~damian/papers/HTML/ModestProposal....