Well, in the example:
<FLJ XXX YYY is a jump to another event or area using a flag.
<MSG creates a message box.
<FACXXXX Puts a facepic by it's number in the box.
<NOD waits for you to hit Z, like after messages.
<CLR clears textbox.
And <END ends the current event.
CaveEditor provides an explanation for each event.