The Community Home lets you find out information about items, users and settings in the community.
The community home "description" can be customised for the community by a community manager. It can also show some basic community information and a list of the top-level folders. Managers can also add a configurable dashboard to the home page to show RSS feeds, calendar overviews, videos etc.
Within a community you can see the activity by checking the "What's New" page. You can also search for items that contain a specific word or phrase using the Search Community option, or by typing a search term into the Search box at the top of the page.
Does this answer your questions? If not, or if you would like more information, please contact support.