Here's the breakdown:
First, whoever has initiative (by default, the hero) states his intent.
For an example, let's say that Boss Franconi is holding Nancy Boseman, the plucky investigative journalist, at gunpoint, threatening to shoot her if you, the hero MagSeven, come any closer. Then you say, "Using my famous quick-draw, I pull my seven-shooter and plug Franconi!"
Then the Concerns start piling in. These should be yes/no questions about risks, complications, and fallout of your declared action. In this case, we could also have Concerns like:
Does Nancy get hit by your shots?
Will Franconi die from your shots?
Will Franconi shoot Nancy?
Whether or not you plug Franconi is NOT a Concern.
The Concerns are negotiated kinda freeform between everyone; if someone thinks one shouldn't go in, then don't use it. During this stage, you can still change your Intent if you want, and Concerns can be re-negotiated. Once everyone's satisfied with the Concerns, jot each one down on an index card.
Now you figure out how many dice you get to use. This is indicated by your stats (Hurt, Hope, Heart, Gift, Gadget, Gimmick, Game, Gun, and Guile, as applicable). For instance, in this case, MagSeven used his quickdraw (Gift) and his seven-shooters (Gadget), and let's say that Nancy is on his Heart list, so MagSeven's player gets a number of dice equal to MagSeven's Gift + Gadget + Heart. Franconi is using his Gun score, and let's say that Nancy uses her Hope score because she's motivated by the hope of cleaning up the city or something. If your stat is relevant at all, it counts. And I don't mean "if your stat would somehow help you to do better"; I mean that if it's at all relevant to what's going on, it counts. (We're modeling a kind of fiction here, not a fictional world. And always remember, Color Does Matter. In fact, that's the reason Franconi's at such a disadvantage in this example; it's an isolated moment, so there's devil-knows-how-much detail and circumstances missing that might trigger his stats).
Now everyone bids their dice on the various Concerns. However many dice you want to bid on a specific concern, place those dice on the card (you need dice of different colors for different players, or some manner of telling them apart). If nobody bids on a particular Concern, then the GM decides which way it goes. Everyone can adjust their bids as necessary until everyone's happy with it. Once the bids are settled, you (the player with the initiative) have one last chance to back down.
If you decline to, then the dice are all rolled. The player with the highest roll on a given Concern decides which way it goes. The Intent (in this case, to plug Franconi) happens no matter what else happens with the Concerns.
If you back down, then none of the risks or unpleasant consequences attached to Concerns come to bear, but Franconi won't get plugged, and you lose the initiative to Franconi's player, and we're there again with Franconi's gun to Nancy's head as he tells you not to step closer, except now his actions are going to determine the course of the next resolution.
The big change here is that you choose whether to back down or not before the rolls, instead of after. I changed it because this game is all about what a person (especially the hero) is willing to put at risk in order to accomplish his goals.