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Well, there aren't any hard and fast rules; different folks use OmniFocus in different ways. For example, I don't track high-level goals in OmniFocus; just projects. Nothing really standing in the way of doing it, but I feel like I'm pretty clear with the big-picture stuff I want to do. It's the medium and short term stuff I struggle with. :-)

In any case, I use folders as Areas of Focus. Inside those folders, I have projects that I'm working on. Personally, my project names tend to be verb- or activity- focused: "Fix Website", "Maintain Health", and so forth. (At least one customer finds it helpful to give them past-tense names like "Website is fixed", IIRC.)

I know other folks on the boards do track their big-picture goals in OmniFocus; I'll let them chime in with tips and tricks on that part...