ROWE is concept created by two former employees of Best Buy. They've since left and started their own consultancy to help implement the concept at other companies.
You can find more info here -
http://www.gorowe.com/ (their consultancy)
try the About tab, and then the Resources tab
To your questions, those things are still tracked and viewed the same as any other company. The only difference with ROWE is that they're removing the 'requirement' that work be done at a certain time or from a certain place (ie: the office). In essence, ROWE is simply another way (catchphrase?) of describing tele-commuting. Work where you want, when you want, but get the job done. In reality it's not really that revolutionary. It's the realization by the company that they're not paying you for hours spent in an office, but for getting a job done.