The Log Window provides verbose feedback on camera and guider operation and status. Many of its messages will appear opaque to the uninitiated (i.e., most of us), but many useful diagnostic messages are printed that can help you in case a problem occurs. You can minimize it, but remember it's there should you need it!
The camera hits the ground running: It begins taking exposures as soon as the software is started. You may, in fact, see the image update several times even before startup is complete.
The Log Window is pictured below as it might appear just after startup has completed.