Found some factoids online that help outline the complexity of it a bit, I boldfaced some interesting bits that could be useful leads for anyone wanting to look into this further. Maybe a couple more interesting links later.

http://staging3.onenw.org/DogwoodInitiative/bulletins/clayoquot_-_one_step_forward _two_steps

1. On the one hand, International Forest Products (Interfor) announced that it will not log in two pristine watersheds for the next five years;

2. On the other hand, the Ministry of Forests reduced the annual logging quota (AAC) of Iisaak, the Nuu-chah-nulth joint venture with Weyerhaeuser that is implementing sustainable logging practices certified by the internationally recognized Forest Stewardship Council (FSC); and *** (!!!)

3. The provincial Crown's just approved the privatization of 173,641 acres of forestland previously included in Weyerhaeuser's tree farm licence 44. This was done without any consultation with the Nuu-cha-nulth. This privatization will impact on the region's forests as provincial forest laws will cease to apply, raw logs from these lands will ultimately be available for export, and lands may be subdivided and converted to other recreational or residential uses.

http://staging3.onenw.org/DogwoodInitiative/newsstories/clayoquotopenedtologging

Mr. Lornie said the board is seeking a balance between economic activity and environmental protection. "You really have to factor in the interests of first nations here. . . . At some point down the road they are going to want to put treaties in place and they are going to want to have some form of an economy, whatever the scale of it is, to support their people," said.
It is expected that logging in the area would largely be done by Iisaak Forest Resources.
Francis Frank, President of the Nuu-chah-nulth Tribal Council -- which represents 14 tribes on Vancouver Island, including five that are members of the Clayoquot board -- said all logging would have to meet scientific guidelines. {1}*
But Mr. Frank agreed the issue could lead to blockades and to divisions within the native community.
"You face the possibility of road action again. . . . That's coming across loud and clear that if Iisaak was to proceed and get into some of these pristine areas that they shouldn't be surprised that the environmentalists are out on the logging roads."
Mr. Frank said that in 1993, aboriginals largely supported the blockades. Would that happen again, even if the loggers were natives this time?
"I'm sure [environmental protesters] would have a level of support within first-nation communities. Now what degree or level, I don't know, but I'm certain there will be some."

http://www.forestethics.org/article.php?id=1539

The new plan will permit anywhere from 20 per cent to 60 per cent of each {2}* of the eight planning units to be logged under eco-standards established by a scientific panel on sustainable forest practices.
……………………………….......

The watersheds have been under a voluntary moratorium since the mid-1990s so land-use planning in Clayoquot Sound on a watershed-by-watershed basis could be completed. Environmental groups, who fought a bitter war with logging companies in the 1990s to save the sound from logging, say they expected the moratorium would be maintained in regions they describe as pristine but outside existing parks.
……………………………….......

But Agriculture and Lands Minister Pat Bell said he believes very little logging will take place because of the high standards set by the regional board. He described the plans as the framework that establishes conditions under which logging can take place.
"The standards are certainly the highest in British Columbia."
He said so far, no logging has taken place in the other three watersheds in the region where planning has been completed since 2003.
"We believe it is appropriate to respect the decisions of the Nuu-cha-nulth," {3}* he said, referring to the first nations on Vancouver Island's west coast. The five Clayoquot Sound tribes are members of the Nuu-cha-nulth Tribal Council.
He said so far, no logging has taken place in the other three watersheds in the region where planning has been completed since 2003.
Francis Frank, president of the Nuu-cha-nulth Tribal Council, said he is concerned about the decision to allow logging {1}* and is attempting to set up a meeting between Clayoquot first nations and environmental groups to determine what exactly has been decided.
"That's one of the underlying concerns," he said. "How much logging will take place and what methods of logging will be used."
………………………………......

The plans will protect 40 per cent of the old-growth forests in each planning unit {2}* and once existing parks are taken into account, ensure that 61 per cent of the sound is protected.

http://www.iisaak.com/historicagreements.html

Agreement With Environmental Groups
On June 16, 1999, a Memorandum of Understanding was signed between Iisaak Forest Resources Limited and the following environmental groups:
Greenpeace Canada
Greenpeace International
Natural Resources Defense Council
Sierra Club of BC
Western Canada Wilderness Committee
Environment Groups committed to:
Supporting Iisaak’s operations.
Actively engaging in promoting markets for products produced by Iisaak.
Developing ongoing mechanisms for sustaining cooperation.
Iisaak committed to:
Respecting the role of First Nations in resource management activities.
Achieving certification under the Forest Stewardship Council.
Managing eehmiis, Nuu-chah-nulth for "precious", areas emphasizing non-timber values.
Developing ongoing mechanisms for sustaining cooperation.

Agreement With Displaced Forest Workers
In September 1999, a Memorandum of Understanding (MOU) was signed by Iisaak and displaced forest workers of the Clayoquot South Community (or ‘the South End’). This agreement led to the establishment of an employment protocol wherein Iisaak agreed to provide opportunities to local contractors and individuals as much as possible, taking into consideration performance standards and cost.
Based on the company’s operating requirements Iisaak will hire: First Nations contractors who are owned by the Central Region First Nations or partnered with a local contractor, qualified South End residents with special consideration for displaced Kennedy Lake employees, and qualified persons within the local area. Over time, Iisaak will expand its business to create additional local employment opportunities.

http://www.gov.bc.ca/bcgov/content/docs/@2SOJ7_0YQtuW/clayoquot_sound.pdf

Clayoquot Sound Interim Measures Extension Agreement (PDF)

http://www.physorg.com/news73995887.html

The dispute pits aboriginal people against environmentalists, warned Paul Watson of the Sea Shepherd Conservation Society in a statement Thursday.

"The Nuu-chah-nulth are demonstrating that they are no different than the white loggers. {3}* A chainsaw is a chainsaw no matter whose hand is on the throttle," said Watson, a controversial international activist.

[ 07 August 2006: Message edited by: EriKtheHalfaRed ]