And now that I've written this, I see that Brenton already documented pretty much the same thing here. Way it goes. Figuring it out myself is better than reading about it anyway :)
ClojureScript One is pretty nice and very well-documented. Despite that, it still wasn't clear to me exactly how we got from a browser request to stuff on the screen. CS1 is built around an event bus model which makes it beautifully decoupled, but hides the execution flow. Add multimethods to the mix and it's definitely a little confusing for a newcomer.
So, tonight, as a newcomer, I worked through the control flow for the initial (development) request from the browser all the way until stuff is displayed on the screen and ready for input. I found it to be an extremely enlightening exercise. The results are below, hopefully someone will find it useful.