There are currently no widgets assigned to the right-sidebar, place some!
Once you add widgets to this sidebar, this default information will go away.
This theme also uses the WordPress 3.0 Menu system. You probably see the default stuff you have in the menubar. Go to Appearance -> Menu in the
wp-admin (dashboard) and create a new menu.
During this whole sequence of panels I had this bass-heavy jazz riff going through my head.
Oh no, that shadowy figure! LOOK OUT, ALEC IS RIGHT BEHIND YOU!!