Basically it says:
OpenContent is freely available for modification, use, and
redistribution under a license similar to those used by the Open Source
/ Free Software community. In plain English, the license relieves the
author of any liability or implication of warranty. It grants others
permission to use the Content in whole or in part and insures that the
original author will be properly credited when Content is used. It also
grants others permission to modify the Content if they clearly mark what
changes have been made, when they were made, and who made them. Others
are free to redistribute this modified content. Finally, the license
insures that if someone else bases a work on OpenContent, that the
resultant work will be made available as OpenContent as well.
See http://www.opencontent.org/ for more information.
-ben