The primary purpose of that piece of the display is to point you to pick up main scenario and class quests that you haven't put in your journal yet since, once you complete all of the main scenario quests available, you wait till the next patch adds more and wouldn't want to have to figure out where to go to get the next one. And of course with the class quests, you have to level up enough to be eligible for the next and they eventually send you to many different places. So it's really handy for not having to try to remember where you left off five levels ago and such.