Arkose is currently made of:
 - arkose: Command line utility with C helper
 - arkose-gui: GUI for integration in the gnome desktop (Similar to the Run dialog)
 - arkose-nautilus: Nautilus integration
 - arkose-wrapper: Wrapper for regular apps to have them start in a container

It basically lets you start any installed binary in a configurable container. You can choose how much disk space you want to give it, if it should have network access and if it should be able to access your /home.
Changes are stored through copy-on-write using aufs2, so the sandboxed application won't notice it's not running directly on your laptop but you'll be protected from most harm it could make.