Yes, well those fields are the generic title+description fields for every folder in your gallery. When you first access the "manage" section, you will be editing the "home" or "content" folder.
This field does not really have any effect in the gallery, because this folder does not really display ... Its just the folder that contains all the other folders (with titles and descriptions). In both the html and flash gallery, it will display the main title+description that you added in your SETTINGS ... for any sub folders that are displayed, it will display the title+description from the specific folder. Since this folder basically does not display, its title+description will not be used either ...
Earlier versions of Imagevue may have used the title+description from here for the home page ... Actually, I will check with Nick why it isn't so any longer.