“As the name suggests, this new app is the eventual replacement for the Custom List app and offers a Work Views experience on your dashboard or custom pages.”
New features to be included
The ability to include more than one item type in your result set
Enhanced item hierarchies will be available within the rows themselves. This will simplify how you can view your item hierarchy without changing to a work item page view
Future features to be added
Expand the types of items that can be displayed within the list to include more Rally data objects.
Addition of the free-form query field. This will allow users to search for information in a work item without knowing specifically which field contains that information.
Link to full details- Custom List App 2.0 | Rally Software (broadcom.com)