The help text from the FAQ section on the www.socialengine.net website is a bit vague on how to change text that is on the home page or other static text sections. In the admin section you go down to the Layout settings area then click on Language settings.
This is where they stop telling you how to get to your files. You must then click on the [ edit phrases ] link on the right side of the page. Then you will be taken to a list of text clippings. You can search by text or by field id. Two of the most common ones are the Title which is editable as phrase ID 642 and the Description is phrase ID 1156, and the home page intro is ID 657.