Well, it is only an 'agreement of understanding' -- something that will lay the groundwork for peace talks that will hopefully lead to a peace agreement between both sides. Among other things, the agreement outlines a prisoner swap between the government and the Justice and Equality Movement. These prisoners would undoubtedly include those captured after the brazen JEM attack on Omdurman by the Sudanese government. One of those detained is the brother of Khalil Ibrahim, the commander of the JEM. According to AlJazeera, the prisoners would be exchanged in several batches, leading to the peace talks that would be held at a later time.
There has been some major progress in Doha, Qatar. The Sudanese Government, represented by Nafi Ali Nafi, held face-to-face meetings with the leadership of the Justice and Equality Movement (JEM), led by Khalil Ibrahim and is working on signing an 'agreement of good intentions'.
The arrest warrant against the Sudanese President Omar Al-Bashir seems to be imminent. The New York Times is reporting that the arrest warrant has been approved - but it seems the ICC is keeping it underraps as per this SudanTribune article. This could be a ploy by the ICC to keep the arrest warrant a secret, allowing them to arrest the President if he decides to go abroad and visit one of the member states of the Rome Statute, the agreement that created the court, without having publicly announced the arrest warrant. Or, they can simply still be in the process of working out the final details. Only time will tell. All the while, 'negotiations' between the Justice and Equality Movement (JEM) and the government are taking place in Doha, Qatar.
No one knows what (if any) tangible effects this arrest warrant will have on the peace talks and the situation in Sudan as a whole. Some, like Alex de Waal believe this could lead to a very dangerous situation.