Right now if you add fields, you'll automatically get that new column of data added. We haven't added a way to delete fields yet, so if you remove fields, you'll still see the old data in there.
It basically allows you to do what you are doing without having to manage tables by adding and removing columns.
The idea is simple, preemptively create a table with a certain distribution of column types and then allow the developer to define models in their app and map properties of their model to available columns.
It is a pretty robust idea and works well, we use it in our product.
I'll be doing a thorough write up on it sometime in the near future.