The application element is used for specifying the global specifying of the application. It contains the windows that make up the application via the inclusion of the window.xml files.
The id attribute specifies the unique id of the application and is used to name the AppBuilder project (.bip). The id attribute is required.
The guiversion attribute is used to specify the version of plug that's used for the userinterface specification. The guiversion attribute is required.
The text attribute is not used by PLUG for AppBuilder.