Hi netoguy,
The basic operation is simple. The first pair is your voice pair. It supplies 2.0 REN I think and works the same as a POTS line. It does not pass caller ID. The second pair is the power / data pair. As 392 indicated, it's an Avaya thing. If you want to get CTI info out, Avaya makes a product that will do that to a serial port. That's called Passageway.
-Chris