Frances weakened very quickly and rather unexpectedly, and it still may miss the coast if it continues to turn north (if it heads straight in any direction, such as NW, it will hit FL)
TWC said that the 115 mph winds may be generous, and I personally think the chances are very good that this will drop below 115 at landfall, possibly to Cat I (although not very probable)

also interesting to listen to the wording they use on TWC
if the winds decrease 30 mph in 12 hours, it is "slight" weakening
if the winds were to increase 30 mph in 12 hours, it would be "rapid" intensification