Edit: We're working on a new landing page that we think does a better job of describing what our product does and is responsive and mobile friendly: http://screencast.com/t/IZnoWChXyQ
At the risk of sounding too "corporatey" again, but to answer the original question of what Waffle does: Yes, Waffle is a kanban-style, "Trello-like" board view of your GitHub Issues. Waffle allows you to effectively use GitHub Issues more effectively for project management (for instance, the board view helps with prioritizing work and visualizing what in progress. You can also do things like view all of your Issues across multiple GitHub repositories on a single board.)
Waffle uses GitHub Issues as your board's data model, so any changes you make in GitHub are also reflected on your Waffle board (for example, we'll move issues into the "Done" column of your board when you merge any commits into your default branch that use the fixes/solves/closes GitHub Issues syntax.) We're working towards automating even more movement of Issues across your Waffle board based on actions you already take in GitHub.
At the risk of sounding too "corporatey" again, but to answer the original question of what Waffle does: Yes, Waffle is a kanban-style, "Trello-like" board view of your GitHub Issues. Waffle allows you to effectively use GitHub Issues more effectively for project management (for instance, the board view helps with prioritizing work and visualizing what in progress. You can also do things like view all of your Issues across multiple GitHub repositories on a single board.)
Waffle uses GitHub Issues as your board's data model, so any changes you make in GitHub are also reflected on your Waffle board (for example, we'll move issues into the "Done" column of your board when you merge any commits into your default branch that use the fixes/solves/closes GitHub Issues syntax.) We're working towards automating even more movement of Issues across your Waffle board based on actions you already take in GitHub.