when you come back into setup, the editor will be blank until you 'load' the keymap you wish to edit.

the description has no relevance to the hotstrings. it is a description that will be shown on the clone line which it is associated with.

please check the bottom half of the tutorial for a step by step guide to setting up the keymaps
http://solidice.com/keyclone/tutorial/index.html

let me know if that helps.