In a post to Google+, CyanogenMod has announced "the death of Power Widgets," offering up an explanation of CM's new solution: a Quick Access Ribbon.
Power Widgets, as the post explains, have been a hit since their birth in CyanogenMod 7, but have languished both in terms of maintenance and usefulness ever since. Their redundancy took another hike with the introduction of Google's Quick Settings shade in stock Android.
"Soon," the post goes on "we will say goodbye to the notification power widgets, discarding their 3000+ lines of code for a sleeker (only 370 new lines), newer, and more efficient method of toggling your settings."
The new implementation will offer a sleek, slim ribbon of quick settings tiles determined by the configuration of the actual Quick Settings shade, and will allow the CM team to offer functionality similar to the old power widgets without maintaining a separate stream of code.
The code is not yet merged, but CM says it "will be soon." Until then, you can follow the discussion at the original post, linked below.