Etherpad (this version) has been superseded by Etherpad Lite which is a much faster, lighter, more awesome piece of software. You should use that! http://github.com/pita/etherpad-lite
EtherPad is a web-based realtime collaborative document editor.
EtherPad currently lives at http://etherpad.org
For instructions to build and run EtherPad, see: http://doc.etherpad.org/ep/tag/?query=installation