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If Lync is installed on the computer where the user joining has been given the link to access, then Lync will open up. However, if not, then they will be given the option to install, or make do with the Lync Web App.
If Lync is installed, however, then it will open up the meeting immediately and almost seamlessly. It will display who is in the call, and one can see who else is in the meeting, and their contact card with their Exchange-provided details.
However, if the joining user does not have the Lync client installed, they can use the Lync Web App - the cloud based Silverlight enhanced web application which runs within the browser.