What is this supposed to look like?

When enabled, it will take all of the taxonomy terms entered for that node, and shows them as a comma-delimited list below the free-tagging taxonomy field (please check out the attached file), replacing whatever static description that was previously there. The order (and total terms) that show below the field depends on how you set up the module (alphabetically, recently added, most popular).

Sorry, forgot to mention that no other modules need to be enabled for this to work.

It just needs taxonomy terms and free-tagging enabled and it should start to show.

It does not show anything.

In the image attached, you can see that the area below the free-tagging taxonomy field is usually just a gray text description of the field. The module changes this to "Most popular terms" (if that is what is selected in the admin), and shows a comma-delimited list of linked terms that have been entered for that field. If a user clicks on these terms, they will appear in the free-tagging taxonomy field above them (unless that term is already in the field). If JavaScript is disabled by the user, the links will just show up as span tags.

Lampei: Any objection if I use one of your pics on the module page? :-)

Please do :)

Done. Thanks.