Right now the core functionality is a "live" character sheet that tracks modifiers and rounds for you. It's also networked, so for example I might cast bless on James, Jason, and Wes, and the appropriate modifiers would appear on their character sheets in real time without them having to do anything. As the rounds count down, the modifiers disappear, etc.
We are so early in the development of this at this point that I may as well turn the question around on you.
What do you WANT the application to do?
--Erik