Galteeth said:
Other people might respond in a completely different way. I'll give you my personal take on what you're asking.
First understand the overall aim of (nonstring)
quantum gravity in layman's terms.
All the various (nonstring) approaches have some mathematical representation of the 4D continuum, which is central. They have some way of representing the whole geometry of the universe (given enough triangle lego building blocks or enough tinkertoy balls and sticks, or whatever the particular approach uses) which can be simplified and scaled down and studied.
If you want a layman understanding of Loop or Foam then you should first get a general layman (nonmath, intuitive) understanding of the QG venture overall. And the best way to do that at present is to read a certain Scientific American article by a brilliant QG physicist named Renate Loll. It is a highly visual, pictorial, non-math article, that happens to be about one of the other QG approaches---not Loop or Foam. An approach called CDT that we can call simply "Triangulations QG". Loll and Ambjorn invented it in 1998, but it only hatched out, so to speak, in 2004, when they took on the full 4D case and began rapid progress.
Here is the SciAm article:
http://www.signallake.com/innovation/SelfOrganizingQuantumJul08.pdf
The title is "The Self-Organizing Quantum Universe" but what that really means is the self-organizing quantum
geometry of a convenient-size universe that you can simulate and get to grow in a computer, so you can measure what's happening inside the little universe, experience what it would be like to wander around inside, study it. And build up statistics about the whole swarming quantum/random flock of little universes.
You get them to grow and get their geometry to evolve according to a quantum version of Einstein's 1915 rules (Gen. Rel. gives some comparatively simple rules for the evolution of geometry. Quantizing the rules provides for random fluctuation.)
In nonstring QG the focus is on the 3D or 4D geometry of the whole universe, how it evolves. How it responds to measurement. The uncertainty with which geometric measurements are correlated. How to get a handle on the whole geometry. How to produce simplified cases that you can study.
At a microscopic level the components (the building blocks or ball-and-stick set) may not correspond to familiar geometry notions. But they still represent the geometry in the sense that at large scale (when you zoom the camera out) it should blur together so you see a more usual geometry picture.
And at a certain level it doesn't seem to matter much what set of mathematical micro components you use.
All the main (nonstring) QG approaches are trying to do the same thing. They are all attracting young researchers now, so the number of researchers is growing. The main approaches have begun making more rapid progress than, say, before 2003 or 2004. And there are some signs of convergence of results. Loop and Foam turn out to agree on some things. Loop and Triangulations and the Renormalization Flow approach all show a curious agreement about reduced spacetime dimensionality at small scale. So there is growth and convergence.
That's why if you want a layman's grasp of modern QG you should, I think, give a careful reading to Loll's SciAm article. When you are clear about Triangulations QG (which is the easiest to grasp) then come back and ask how the spinfoams of LQG are trying to do the same thing but with different mathematical apparatus, different paraphernalia, different set of micro-components.