I intend to add a screen that will let you generate a new set of keys with instructions how to replace/add to your old keys in the standard GUI. In the meantime it's fairly easy to use graphenejs-lib in node.js to generate a new key, there are tests in the library doing just that. Of course until someone decides to host a version of this simple wallet for Bitshares, the only live version uses the testnet.

This is why we need s user friendly wallet for non-technical folks. It should be so easy and intuitive we don't need a help section. 

My-echo are building something and hopefully others will too.

If you're talking about the openledger wallet there's not really a 'log-out' button. Just a lock in the upper right corner that locks the wallet from having any activity until you enter the password again. 
Dan built the Bitshares  blockchain and code (which is beautiful), not so much the wallet (which really is very very good). 
Coinbase has a different sort of function to OpenLedger. Coinbase lets you trade your dollars for bitcoin and then holds the bitcoin private keys for you. They basically issue you an IOU for your hard-earned dollars. OpenLedger is an interface to the Bitshares blockchain and you get to hold you own key to your own assets. OpenLedger also lets you trade a variety of coins like Steem or Etherium and other assets like Gold, USD, or Obits. 
Coinbase makes it simple, they offer one price and one trade pair with a spread that they choose. This is extremely profitable for them. OpenLedger offers better flexibility and infinitely better security.

1. Yes it requires multiple logins like on [steemit.com](https://steemit.com). Since there's no real wallet, just a set of keys stored in memory, it's the easiest way of doing things. Support for multiple accounts could be added but I would prefer to keep it as simple as possible to be honest. What we've seen with the normal BTS GUI is that there's a lot of confusion over accounts vs wallets, so in this version I'd like to keep it to one login -> one account.
2. Sure, but it would be equivalent to giving them control of your private keys. I'm no expert on password management or recovery though, there might be a good way to implement this without jeopardising your keys.
3. The default wallet is heavily tied to the "wallet" infrastructure which is part of the reason why I decided to make this new wallet from scratch. It might be possible to add the simplified login though, I'll have to investigate a bit.