The toolchain that Google has released is an "early developer preview", but it should allow developers to easily port their Chrome apps to mobile by essentially wrapping the Chrome apps in a native shell wrapper using Apache Cordova. And, to make apps feel more native, Google has also ported certain Chrome APIs like push messaging, OAuth2 identification signin, storage access, and more. Not surprisingly, there are a couple extra APIs available for Android porting including rich notifications and in-app payments.
Google's plan is to allow developers to release Chrome apps through the Google Play Store and Apple App Store and have them run just like native apps. We don't have a lot of info on how it will all work, but we expect some cloud syncing to be involved since these are Chrome apps after all.