The "Add Content Item" allows you to display an existing content item on your site in a widget area. Start typing the title of the content item in the "Piece of Content" box, and select the item from the list provided. Under "Content Settings," select how you would like the content item to be displayed ("Full Content," "Teaser," etc.).
NOTE: Currently, when adding a new Content Item widget, the Preview window will default to an existing content item. You can choose another item following the instructions above.
Edit a node directly from a widget
If you have decided to feature existing content on your home page (or another page) by adding a widget using the "Add Content Item" option, there is an easy way to edit that node directly from within the widget.
Select "Customize this page," then click the "Settings" button on the panelized content item that you wish to edit.
Next to the title field, click the link that says "View [Your Page]".
This will bring you directly to the content item, where you can perform your necessary edits.