About skills... There are two kinds - "Regular" skills, and "Class" skills. Regular skills are bought using Silver (in game currency), while Class skills are bought with CP. This skill, Tornado, is a Cleric all-around AoE attack. Nice when mobbed. Not so nice when accidentally hitting another mob which just happened to spawn behind you.
EDIT: Fame allows you to buy certain items from an NPC. The higher your FAME for that area, the more items are available to you.