the part: "export PANDO_HOME=/PATH/TO/PANDODL_DIR" doesn't look right.
Do you have that directory? If so, you may just need to omit the "$"
on the comand to launch... I'm just guessing here while you wait for
more informed opinions. I'm not familar with the export and $ for
launching a program.

But what I think they wanted you to do was make/specify the path that
you are installing pando to. They did not specify because they were
giving you two options, a local install (under /home or
/usr/local/bin). If I understand their instructions right you would
for a local install:

1) copy the tar.bz into your home directory
2) open a terminal and type "CD /home"
3) type "tar xvfj pandodl-0.9.2.0.tar.bz2"
4) type "ls" to make sure there is a directory called PANDODL_DIR
5) If directory is not present, type "mkdir PANDODL_DIR"
6) type "export PANDO_HOME=/home/PANDODL_DIR"
7) TYPE "$PANDO_HOME/pandodl" to launch from any directory in a terminal

or, if that doesn't work, after "6)" type:

"cd PANDODL_DIR"
then
./pandodl

Does that sound about right to anyone else? Guess it doesn't hurt to
give it a try...