Ah, sorry, my mistake. I read the post too fast! For some reason, I was thinking of the blog title function.
For the post title, yes, you are correct: the code should at least be on those templates to display. Why it is not displaying on the home page, I am not sure. You might try using the Pastebin to show us what your
home.php file looks like.
As for your first question,
<?php the_content(); ?> is used to grab the content of the post currently loaded by the Loop. Since it sounds like you are using WordPress as more of a "normal" CMS, you are not using posts. But, since you have those content areas that you want to fill, it is possible to use posts to perform that function.
Since you are making a CMS theme, there is probably not an instance of The Loop iterating through recent posts on your front page (since you are not posting to a blog). One option could be to create several categories of posts (one category for each space), write up several possible fillers for each category (which correspond to those slots), create posts using those write-ups, and put a miniature Loop inside each of the content areas. These Loops would be customized to show a random post from a specified category.
There are several themes which appear to have similar content areas. You might want to have a look at them for additional ideas.