The working folder and repository location probably don't need to be so prominent and the buttons should be in toolbars at the same level.
The working folder could be in the title bar of the application.
An extra side-bar with a directory tree could also show the root working folder.
This could then have the option of filtering the view by the selected sub-directory (recursive view optional).
The repository location is probably not that important, but could be displayed in a status bar or the title bar or could just be made available via project info popup or something.