Click on the "More" button in the last column of the Layer Settings window to see some additional settings for each layer. Right clicking anywhere on the layer row will also display this window.

Layer Format 

Use this button manage the list of fields associated with this layer.

Advanced Layer Settings 

Use this button to view/edit a list of advanced settings associated with this layer.

Diagnostic Information

Use this button to view diagnostic information related to the file structure of this layer.

Save Settings To Layer

Use this button to save a copy of all of this layer's display attributes to the layer file in preparation for transport. This happens automatically whenever users make changes to a layer's content and choose File - Save. But this button is useful for saving the layer's settings to the layer file despite not making any changes to the layer data.

Create Template From Layer

Use this button to create a layer template based on the format of this layer. This template can then be used for creating new layers just like this one.

Categorize Layer

Use this button to create a new layer category and add this layer to it.