Federal Vision is basically based on hyper-covenantalism. It is a fluid movement and therefore it does not easily lend itself to simple definitions. Its false teaching includes teaching that children and infants should be fed the Lord's Supper, even though they have not given a credible profession of faith. Some supporters seek a highly liturgical worship style and other such matters. One of the best books that unmasks this movement is by Guy Prentiss-Waters. It is called "The Federal Vision and Covenant Theology: A Comparative Analysis".
The main leaders of this movement (according to Guy Prentiss-Waters) are based in the USA, and they are:
May we all be aware of spiritual pride which can blind us all. Perhaps one danger is the desire to be super-reformed. If you have been influenced by these teachers then I suggest that you read the book by Prentiss-Waters to ensure that you stay on the historic path of Christianity.
Jude 21-23: "Keep yourselves in the love of God, waiting for the mercy of our Lord Jesus Christ that leads to eternal life. And have mercy on those who doubt; save others by snatching them out of the fire; to others show mercy with fear, hating even the garment stained by the flesh".