I found out recently how to use the painted shader, and much like Terragen Classic, you can paint the view you want. I too have yet to figure out the "nodes" except to crash T2 consistently. For an example of what it can do -
1) Create a power fractal in the terrain tab. (Add terrain, select Power Fractal)
2) Now you have a landscape tool, let's assign a paint brush to it. Select the new terrain - it is listed as Fractal terrain 01.
3) You can now see a bunch of settings, the one in particular is at the bottom - a check box that says
"Blend by shader" - click it to turn it on.
4) Look for the small button with a plus sign and a small arrow on it for the "Blend by shader" textbox.
5) Click the small arrow - from the menu list select "Create new shader", "Color Shader", and finally "Painted Shader"
You now have a paint brush, so how to use it. Scale down the node window - by using the middle divider that appears between the preview window and the node window so that the preview window is as large as you can make it - this becomes your canvas.
Above the preview window there are some buttons - "Pause", "Reset" etc. Slide your mouse pointer over each to see what they are, the one we want is the "Start or stop Painted Shader..."
Click the button, and select "Painted Shader 01" - your new paintbrush.
Slide your mouse over the preview window and you will see that a circle appears - where ever you click or click and drag and "paint white color" is where your terrain will appear. So you can literally paint your landscape.
This is just a quicky to get you playing, settnigs for the "Painted shader" is on it's property window which you get to now by clicking that plus sign button again and this time select "Go To Painted Shader 01", you can control the color you are painting with (not a real color applied - just a visual guide). If I have more than one painter - I assign different colors to them to see them clearly on the preview window. You can also set the size of the brush which is in meters.
Have fun, and as everyone as said already keep asking questions - the more specific the better answers we can provide.
Welcome to the forum!
JR