Here's some concrete suggestions:

Instead of :

" What is MindWallet? blahblahblah "

Maybe something like:

With MindWallet, you can socially or privately organize your plans and goals. Simplify problems by breaking them up into subtasks and coordinate with friends to complete tasks on-the-fly. MindWallet enables you to manage your to-do list instead of having it manage you.

MindWallet:

* Displays your current tasks and lets you break them into subtasks

* Communicates with friends within your to-do list

* Integrates with social networks

* etc...etc...etc...