Edit templates/index.tpl and remove this code on top:

Code:
<div class="bg2" style="border-top: 1px solid #5e7cae; margin-bottom: 0.8em;">
	<table width="96%"  border="0" cellspacing="10" cellpadding="0" align=center>
	<tr>
	<td>Watch
<span class="normal_gray">Better than TV watch what you want when you want it!</span></td>
	<td width="1" bgcolor="#5170a8"></td>
	<td>Upload
<span class="normal_gray">Quickly upload and tag videos in almost any video format.</span></td>
	<td width="1" bgcolor="#5170a8"></td>
	<td>Share
<span class="normal_gray">Easily share your videos with everyone, put videos on your space or watch them here.</td>
	</tr>
	</table>
</div>
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