Actually, it is already on CO.com:

http://www.continental.com/web/en-US...e/skyteam.aspx

OnePass members can use their miles to upgrade to First or Business Class on international flight itineraries on any SkyTeam member airline effective Nov. 3, 2008.

Member must have an international published full fare economy class booking.
Valid only on Air France, Delta Air Lines, KLM and Northwest.
Code-share flights are not permitted. Flights eligible for upgrades include those marketed and operated by the same airline code.
Eligible itineraries must include at least one international country-to-country flight operated by a SkyTeam member airline. Associate-operated flights are excluded.
One-class upgrades are available on a roundtrip or a one-way basis.
Upgrades must be requested at least three days in advance of departure. For upgrades on KL-operated flights, tickets are to be reissued 10 days in advance of departure. If the upgrade is confirmed 9 to 4 days prior to departure, tickets are to be reissued 1 day prior to departure.
Mileage redemption levels are determined by the member's frequent flyer program where the mileage will be debited.
Multiple Frequent Flyer Program upgrade awards on one itinerary are not permitted.
Multiple airlines within one upgrade award are permitted, so long as the itinerary involves at least one international country-to-country flight.
No Waitlist or Standby at the airport.
Paper tickets are not permitted. All tickets must be issued as e-tickets on a SkyTeam or SkyTeam Associate airline's ticket stock.
Mileage upgrades are subject to availability.
To Request SkyTeam Mileage Upgrade Rewards

For SkyTeam Mileage Upgrade Rewards on any participating SkyTeam member airline call the Continental Partner Desk. Within the 50 U.S. call: 800.344.3333 (7:00 a.m. - 7:00 p.m. M-F Central Time), outside the U.S. call: 801.359.9719 (7:00 a.m. - 7:00 p.m. M-F Central Time).