First off, I have to give credit to Datbtrue for inspiring me to try alternate day fasting, as fasting is what makes the entire program work so well.

The protocol: 3 consecutive days of training followed by a day of no training, only fasting. So it looks something like this:
Monday: Push day (chest/shoulders/triceps)
Tuesday: Pull day (Back/biceps)
Wednesday (legs)
Thursday: Fast (no food, you can do an hour of low intensity cardio if you want)
Friday: Repeat

I like to use a higher intensity/low volume approach so on push day I'll do one set of seated shoulder press, one set of decline bench, one set of incline db bench, 2 sets of pushdowns, a set of lateral raises, and a set of weighted dips. All to failure. Back day may be one set of pendlay rows, one set weighted chins, one set machine row, a set of pullovers, a set of shrugs, and 2 sets of curls to failure. Leg day may be something like a 20 rep back squat, 20 rep front squat, laying leg curl, heavy weighted hyperextensions, and 3 sets of hanging leg raises, all to failure. I stay between 8-10 reps for everything except squats, shoulder press, and hanging leg raises. Squats I've gotten so much better gains both in strength and size by doing 20 reps. Shoulders I like to work to a 5 rep max. For abs I stay under 15 reps, u can use a dumbell between the feet or resistance bands to make the hanging leg raises harder as well as pause at the top and do a static hold to failure at the first rep, then go to failure on repping it out.

For the diet: you can eat an extra 20% or less on workout days, or 500 calories, or whatever you want really. Most people dont count calories, just know you can eat a little more than normal. On the 4th day/fasting day. Dont eat anything for 24 hours since your last meal. So if you stopped eating at 10pm the previous night, dont eat until 10pm this night. After the 24 hour fast, you can eat about 10% of your daily calories or 300-500 calories, then go to bed and wake up and eat like normal. The outcome of this will be a diet a little below maintenance, but u will NOT lose any muscle on the fasting day.

Benefits of a day long fast: increased insulin sensitivity, decreased proteolysis (protein breakdown), more mitochondria in the muscles(better recovery).

How does fasting relate to building muscle and bulking? Improved recovery, you burn off any fat you may have gained the past 3 days plus a little more so you get even leaner, increased muscular strength, and increased size.

This would be best for someone who is trying to lean bulk. If you want to gain/maintain muscle with the emphasis on loosing fat at a very rapid pace, do alternate day fasting: where one day you eat, the next day you do a 24 hour fast, repeat. Eat an extra 10-20% on lifting days. Use either a full body workout or a A/B alternating workout such as shoulders/chest/tricep/quads on one day and the next day do back/biceps/hamstrings. The fasting day, eat 300-500 cals before bed. If you want PURE fatloss, try removing the small meal before bed.

Copyright Tnubs 2012.

Tl;dr version: 3 days of lifting, 1 day 24 hour fast, repeat. Bigger, stronger, leaner. ADF to recomp. Stop being afraid of not eating/missing a meal!