TOS: OK lawyers, what does this mean to me

You authorize and grant permission for the xyz Software to utilize the processor and bandwidth of your computational equipment and facilities for the limited purpose of facilitating the communication between, and transmittal of data, content, services or features, to you and other users.

Combined with:

You understand that the xyz Softwares include appropriate organizational and technical measures to protect the privacy and integrity of the computational facilities utilized by you as a plasq user; however, you acknowledge and agree that plasq cannot give any warranties in this respect.

Does this mean I am giving them permission to access files on my computer and use my computer and bandwidth as a server for their use?

Sounds to me like they're saying at the end that they do provide security for your information, but they are not liable if it is lost or stolen.

Or someone thinks that a thesarus can solve anything. I say we call them "Joey" from now on.