Breaking it down we can see:

Java Source Folders

• The main class Application.java which contains the application's business logic in defined Event Handlers
• Send and Receive drivers which are test applicatons used to drive traffic to the main application.

Model Source Folders

• state.xml Contains the xml model defining the application's state
• message.xml Contains the xml model defining the applications messages.

Test Source Folders

• A TestFlow class which runs all of the applications in the JVM for easy testing of the entire application in a single process.

Conf Folder

• Contains the DDL xml which defines:
  • Each applications in the project (in this case Application, Sender and Receiver
  • The message buses they use to communicate with one another
  • ...and The Talon XVMs, the contains used to launch instances of each application.

Maven Pom

• The talon archetypes use Maven to ease build and dependency management.
• If you are using a different build tool you might have an additional library folders and build scripts.