I've seen the Grand Central logo in a few different posts. I'm just curious what exaclty it does and what is it used for? I read a little bit about it on their website but they didn't get too specific. Some clarity would be appreciated.

First, welcome to the BBForums!

There is an entire thread here about GrandCentral.
GrandCentral Beta Invites

On the GrandCentral site:
GrandCentral: The New Way To Use Your Phones
That is not specific enough?
Then try ths:
GrandCentral - Wikipedia, the free encyclopedia

cserviss, through the other post, I have sent you an invite.