This is the initial release of AWS CloudFormation. For more information, go to AWS CloudFormation Documentation Page.
Template Locations are Restricted
If you use Amazon S3 to store AWS CloudFormation templates, you must store the template in an Amazon S3 bucket in the AWS region in which you are creating the stack. The template may be region-aware, so if you want to use the same template in multiple regions, you can upload the same template in all regions. For examples of templates that are region-aware, see the AWS CloudFormation sample templates.