Caps question - (ie: newbie question)

[wokeupfalling]

On this page http://www.geofex.com/Article_Folders/fxswitchr/fxswitchr.htm - under Part 7, there are 2 capacitors on the +V going to the 74C373 Octal latch...

Can someone explain to me why these are here?  This is a newbie question I am sure ;-)

Thanks!

[Seljer]

Those two are mainly for power supply noise filtering and to make sure, the circuit can quickly get impulses of current if it would need to (as capacitors can de-charge very quickly compared to a battery)

[wokeupfalling]

Why 2 caps and why those values?  Is it specific, or could I use only one... or even different values?

I guess my question is, what is the formula behind deciding on caps used this way?

Thanks ~