The link between "log out" and "about" currently reads, just "parent" which refers to the parent site of Pro Webmasters.
Many, many sites for children have a similar link -- "parents" -- with an entirely different meaning. Here is a small example of such sites, each has a very large user base: Club Penguin (Disney), PopTropica, NickJr.
I state those sites and the fact that their user base is large because I want to make the point that you might say they've established a UI convention to the use of "parents" in a site header or footer especially in proximity to the complimentary elements of login, about, faq and search.
Therefore, it's not a big leap to say that a quick glance at the "parent" anchor text would suggest to someone oriented to that convention (parents of kids who use computers), that clicking that link might lead to information for the parents of the users of this site... I know, it sounds silly, but I do believe this convention has been established.
Regardless of how often the "parent" link is mis-construed as info for parents, it would be more descriptive and useful simply to add the word "site" after "parent" so that it reads "parent site."
I notice that StackOverflow also uses just "parent" and while I still think it's best to be more descriptive, I can accept that use because the meaning of parent-child on a site dedicated to programming topics carries context unique to that community. This is also applicable with Webmasters, but much less so -- the user base here is more varied, of a more general skill set than SO.