The widget has 3 tabs for "Friends", "Family" and "Work" contacts. Each tab proposes 8 contacts in portrait mode, and 5 contacts in landscape mode. Just tap the photo of a contact to send a call, a message, an email (and more...) !
The last tab is made for applications. 18 shortcuts to your favorite applications are available.
The lite version is "mono instance" which means that if you put multiple widgets on your desktop, their data will be the same. Whether you'd like to have a "multi instance" widget, or just support the app, please have a look at the paid version (YACW without the "Lite" ;-)) available at a moderate price on the Android Market.