There have actually been multiple editions before; the seventh issue was just published. It makes surprisingly good reading and offers a good level of informed scholarship from actual practitioners. Each issue also includes a "Platform" section, where articles by authors outside the legal profession but with insights useful to legal practitioners can be found. In the latest issue for example a paper from Outercurve Foundation's Paula Hunter and Stephen Walli covers the lessons they have learned about open source foundations while establishing Outercurve.
There are also book reviews, summaries of recent case law and discussions of open source legal theory. While many of us will consider the idea of a legal journal anathemic, IFOSSLR actually makes surprisingly interesting reading - give it a try!