everything would look fine for about a week to a month, then one day your computer won't start, then you'll have to insert the OS X install CD to fix it, and since you downloaded 5G64 GM version 2.4.3.GM from alt.hackintosh, you'll be downgraded back to 10.0.4 and have to find the 10.1 download again
Well, CFM is Code Fragment Manager, which is (I believe) the way shared libraries work on newer OS's pre-X (8 and 9 I think). See About the Code Fragment Manager
Then there's the fact that LaunchCFM is located in /System/Library/Frameworks/Carbon.framework/Versions/Current/Support; the important part being Carbon.
Finally, a 'strings LaunchCFM' says (among other things):
Usage: LaunchCFMApp <CFM file>
So it probably is some kind of glue to run Carbon apps compiled for X and pre-X versions (as opposed to Carbon apps compiled only for X, which are Mach-O).
Of course, this is all speculation, so this could be completely wrong...