Keith Hanna has written an article detailing DNS Load Balancing in CS14. The article can be found here on the Microsoft TechNet site. The short version is that multiple IPs are associated with a pool which Communicator caches and connects to at random. In the event of a failure it will select another IP.
On a related note, the Director will be a proper role in CS14 as opposed to how it worked in OCS 2007/R2. One of the key advantages to this is that you will be able to use load balancing without requiring a SQL server installation to support the Director. Instead it will use a local SQL Express instance for its database needs.