"Lorem Ipsum" is a placeholder text used by publishers to fill the space where regular content will eventually be placed. If you're looking at it and thinking, "This looks like gibberish!" then you are exactly right. Though it is Latin and derived from a text by Cicero, the paragraph has been altered somewhat to be intentionally non-sensical even to those who are fluent in Latin. The idea here is that you can see what text will look like in a given space without being distracted by the content placed within.
Also known as "Lipsum," the text is used as filler in Shopping Cart Designer Pro. It's just a visual aid that lets you see how your theme design looks when populated by text. To edit the text in your shop, switch over to Shopping Cart Creator and go nuts!