This says that in the current document (your HTML page), the script should look for the third image on the page (JavaScript starts counting at 0. It's a C thing) and change its source to the specified URL.
It's that simple.
The rest of the script structures the presentational aspects of the image cells, tweaking how the images are displayed, how quickly they change, how the transitions work between "types" of objects, and other behind-the-scenes trickery.
The opening credits page is a GIF that was set to 100 percent width and height; JavaScript grabs the pixel dimensions for the browser window, and submits them to a Perl CGI that I wrote because I was lazy (hey - it's one of the three great virtues) and I didn't want to figure out how to do form submissions between JavaScript pages. Also, JavaScript has changed the way it redraws pages between versions 1.0 and 1.1. I probably could have done this in one script, but the Webmonkey producer explained a little thing called deadlines to me, so ... no elegant code.
To view the source of this or any JavaScript application, you'll need to append a "view-source:" before the URL in the location field of Navigator. Selecting Document Source from the View menu will give you only a partial display of the code in Navigator 3.0; it will display the output of any document.write() calls, but not the source.
If you haven't seen them, Thau's tutorials offer a great
introduction to JavaScript. The Perl source for my piece (really only five
lines of actual Perl) can be viewed here. You're welcome to hack away at the source and
adapt it to your needs. I've placed the piece under the GNU public license.