A Theroy of Everything does not mean a magic formulae that will answer al questions and be abble to predict the future.
You cannot, for instance, make it into a computer program that will tell you who you will marry and how many kids you will have.
What it can do is explain all the Forces in the Universe with a single equation. There are only 4 known forces that explain all the phenomena we can see: Gravity, Electromagnetic, "Strong Force" and "Weak Force".
Strong and weak forces act inside atom nuclei. they determine, for example, which nuclei will be stable and which will be radioactive.
Electromagnetic forces are responsible for magnetic fields, electricity and all chemical interactions. They also explain how molecules interact with light, which substances will have which colour, etc.
Gravity holds us to the ground, keeps the Moon going aroung the Earth, the Earth going around the Sun and keeps galaxies together. It also is important in black holes and other sutff.
Here is the challenge:
Currently we have 2 theories
1) Quantum mechanics - deals with really small stuff such as atoms, molecules and subatomic particles and works quite well there: it can explain nuclear and chemical reactions
2) General Relativity - deals with time and gravity, but only on large scales (planets, stars, galaxies and, to some extent, black holes).
We do not have a theory that can be used for both at the same time. Everything seems to point to the Big Bang theory being, in general, correct: the universe started small and got very large. During some period in its history it went through a stage that can only be looked into by a model that can explain both "small" and "large" scales. Until we got one we will never know what happened at that time.