What language?

Updated description + python and ruby test cases

It's not an accurate implementation of the pseudocode in Python if the variable names in the Python don't match the variable names in the pseudocode.

I've just changed the description of the kata. What do you think, it's better?

Kata was moved from Beta status to public, so at least it means the kata is correct. I did not want to write easy kata that could be solved by using easy alghoritm or just monkey code. It's a bit hard kata and hidden tests are using extremely big numbers so you solution must be very efficient. The numbers in tests are randomized and you cab see them if you add "puts number" in your solution. For example, there can be number like 35184372088832, so you solution shoul be enough efficient.

What is about your first point: i even don't know what could be wrong with description if there are even examples of usage:
power_of_two?(4096) # true
power_of_two?(333) # false