After some research, the way that reputation is supposed to work in this new version is that if you push the "like" button on someone's post, you are conferring reputation points to them, according to your relative "power" to give reputation. Your relative reputation is displayed below your avatar as a series of red bars. If you roll over, it offers a text interpretation of the score.
Reputation "power" is earned based on longevity as a forum member, post count and your own reputation.
