If you're looking for an version that works with 4.x Cataclysm then I suggest you try CooldownAlpha by xtothx.
I have very little time to play WoW and even less time to code addons. As such I've dropped all development of all my addons. If you want to continue any addon or make a fork then feel free to do so. This is your permission slip.
Best regards, v6
Turns your action bars into a cooldown tracker by switching the alpha of action buttons that are on cooldown.
If you open core.lua in a text-editor you will be able to change the alpha and disable fading on the bars of your choosing.
There should be enough information in the file on how to change it.