This is a brief primer on how the compound works.
Forskolin increases Adenylate Cyclase through a direct mechanism(does not require a beta adrenergic agonist). Adenylate Cyclase is the enzyme required to activate cAMP. Activation of cAMP ultimately leads to increased lipolysis(the breakdown of triglycerides into free fatty acids). More free fatty acids availible = greater chance they will be used for energy by cells.
Forskolin has also been shown to increase testosterone levels in humans and rats. In long term diet studies, the groups given forskolin increased LBM while reducing body fat levels. This occured in rats as well.
So, it has a lot of proposed benefits, and I'm interested if it really lives up to the hype.