Judging from how long it's been since the OGC was called the "OpenGIS Consortium", this text has not been updated in quite a while.
My suggested replacement text below. Feel free to modify.
GeoServer is a full transactional Java implementation of the Open Geospatial Consortium's specifications for Web Feature Service (WFS) and Web Coverage Service (WCS) with an integrated Web Map Service (WMS).
This web administration interface allows for easy configuration of GeoServer. Please use the menus at the upper left to navigate through the interface. The Admin menu lists technical details about the running GeoServer instance. The Config menu allows for configuring data and services. The Demo menu has examples of GeoServer in action. GeoServer includes an integrated OpenLayers client.