IFRAME functionality is accessed with ShowIFrameAtMousePosition or ShowIFrameInPanel both of which display the IFRAME. Note that IFRAMEs behave a little differently than embedded hover windows in that IFRAMEs are fixed size and don't auto-adjust in size based on content so you need to set your original panel width to the desired size up front. Note that this frame is draggable which is enabled by using a client side wwDragBehavior and attaching it to the hover window.
Finally this form shows a drop down list, also using an IFRAME with content pulled from a separate page. The page loads and a selection then returns its selected value (a URL) back to the main page by calling back on the parent frame. This is highly useful in many situations for pop up help and selection lists or things like dynamic calendar popups. Communication between frames is easy once you figure it out and this page demonstrates how it's done.