In addition to a garish countdown to V-Day (in hearts) that can be positioned anywhere on the screen, the wallpaper features"beautiful fireworks for lovers" that consist of many different "blooming patterns," including a heart shape and the big four-letter-word.
Even though I actually like Valentine's Day and am a female with a soft spot for sentimentality (presumably the target audience for a wallpaper like this), I definitely cringed and then promptly uninstalled Love Fireworks from my EVO.
If this is something that you and your Valentine want to look at while having a romantic dinner under the stars, though, then you can get it free in the Market.