This is a great feature of Windows 7 that allows users to reduce the number of steps to certain actions. Hedgehog’s tool allows you to not only customize your Jumplists, but allow provide a more dynamic approach to doing so.
The example given by HelpDeskGeek uses Firefox and Chrome browsers, and allowing you to not only launch these apps but to select from a list of frequent pages to jump to (hence the dynamic approach).
I suggest giving it a read. Don’t forget to install Jumplist-Launcher.