There are five buttons along the button of the application: Adobe, Edit, Online, Upload and Settings. Adobe is simply sample photos and links to more effects, tips, etc... The edit tab is what you will probably use most. On the edit tab (see photo right), you can crop, adjust the exposure, saturation, tint, contrast or make the photo black & white. The next button over is used to give the photo effects such as sketch, soft focus or sharpen. The final button on the top row (the stars) allows you to add more effects, such as vibrant, pop, vignette blur, etc... and borders.
Those are your only options, but that should be enough for journalistic uses. The bottom buttons let you cancel, redo/undo and save. Under the save menu, as you can see in the image, you can save and exit, upload (Photoshop.com), post to Facebook or TwitPic.
This application is geared for quick edits to photos. To edit a photo, click a type of edit that you want to make, such as Saturation. It will give you a tip (unless you turn them off) on how to best use this edit. For instance, the tip on how to change the saturation says "slowly slide your finger left/right over the image to adjust the saturation level." All you have to do is pinch or push like you would to zoom in/out and the levels will change.
I would definitely recommend this application. It is easy, powerful and free.