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That's the spirit. Glad to see it's on GitHub, too.
Maybe a good idea, but they used Comic Sans for the description and that is the sign of amateur. After they lost all of their own data, I really would never trust anything with these people ever again.
I presume that is exactly the point. If it becomes an open, federated, distributed, open source, social bookmarking (any more buzz words?) service, you don't have to trust them with anything. Really, that is possibly the only way they could ever recover any semblance of trust.
This is exactly what Comic Sans was made for: a brief blurb of text that's meant to look playful rather than formal. Comic Sans actually works better than Chalkboard for that purpose.

Comic Sans is hated because it's overused, but don't take from that that there are no good uses. There is only one.

I don't think that you should reason too much from the font somebody uses. Plenty of successful websites started out with an amateurish look and for some of them it's still a trademark.
Uh, open source? What kind of license is it under? I can't see any COPYING or LICENSE file in the github repo.
I'll just use delicious, thanks.
Or Digg, Reddit, Propeller, StumbleUpon, Furl, Blinklist, Bluedot, Newsvine, Mister-wong, Mixx, Buddymarks, Jumptags, Google/Yahoo bookmarks, or 100s of others. Here's a big list: http://www.socialposter.com

For some reason, magnolia always resonated with me as: "Hey! Look at me! I'm sooooo easy to use! And I look sooooo good! Hey! (bats eyelashes) I'm pretty, right? Your life should revolve around bookmarking! Just go to mag.nol.ia .. no, wait, mag.nolia.com ? No, it's ma.gnol.ia. Ah, here it is: ma.gnolia.com. Anyway, bookmark it!"

With the irony, sadly, that it was not that easy to use and sacrificed functionality for "beauty" which was not even skin-deep.

Damn amateurs.

Dead since last year, by the looks of things.