Here's a simple PPT I put together to help you understand the basics of twitter - there's nothing about trending - but you'll see there is an explanation of some simple concepts.
Hope it helps :-)
3. TWITTER IS A REAL-TIME SMS
SERVICE FOR FREE - THAT
EVERYONE SEES
EVERY TWEET = SMS
4. Text messages that
everyone can see on
your page, but also on
theirs (feeds)
Having a topic you are
discussing that others
can find (#)
Following people you like
(Click follow) and directing a
message to them (@)