If your Mac is ever stolen and Mac Calls Home is installed, it will inform you of its location by using an existing Internet connection. It will try to send as much information as possible about the location, and if an iSight camera is available, it will snap a picture and send it to you as well.
Launch is a menu for favorite applications and documents. Installing Launch creates a folder in the home directory called "Aliases". Any number of documents and shortcuts can be placed in there and arranged in a hierarchy of subfolders. At login, Launch scans this directory, and creates a menu in the status area from which these files can be opened instantly. There are no other options or features in the menu; just exactly what is found in "Aliases" at login and no more.