Suggestions as follows, with comments in brackets. Please feel free to use some and ignore the rest, also to change forum names back The only thing I feel really strongly about is never using the words 'Click here' (for accessibility reasons).

About – About Moodle overview
What is Moodle? – Moodle Docs - About Moodle
Statistics – Statistics on Moodle sites, community growth and Moodle downloads
Demonstration site – Moodle site for exploring as a teacher, student or admin

News – News overview (currently missing, as News and Recent news are the same)
Recent news – Moodle and Moodle.org announcements (btw I changed the forum name from Moodle Announcements to Moodle News as I found it confusing to have 'Announcements' in the forum title and 'News' in the navigation bar)
Security news – Security announcements (btw I changed the forum name from Security Announcements to Security News)
Planet Moodle – Blog entries and status info from Moodle developers
Moodle Buzz – Moodle news and publications from around the world
Calendar – Upcoming Moodle conferences and other Moodle-related events

Support – Support overview
Documentation – Moodle Docs wiki
Forums – Moodle course links (sorry I still can't get used to calling courses forums!)
Books and manuals – Books written by Moodle community members (I suggest the link text is shortened from 'Books and manuals' to just 'Books')
Commercial services – Services offered by Moodle Partners

Community – Community overview
Forums – Moodle course links (sorry I still can't get used to calling courses forums!)
Events – Calendar and conference centre links
Registered sites – Moodle sites country listings
Connected sites – Moodle networked sites listing (I'd still prefer the link text to be 'Networked sites' rather than 'Connected sites')
Moodle Jobs – Database of Moodle-related jobs offered and wanted
Recent participants – Moodle.org user pictures (a fun page, but not important enough to be included in a dropdown menu IMO)
Donations – Paypal link for donating to Moodle

To be continued...