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.
I love how calm Vish is about everything. I feel like he’s gotten considerably better at this. He doesn’t seem to fret as much as he used to.
I’m pretty sure that last line was in his “fretful” or at least “crestfallen” voice.