This will allow you to edit the MIDI message being sent by the 8 rotary encoders. You can as well get 8 more parameters on Bank 2 so you can edit 16 total. 

Behaviour:

Resolution - is the degrees of rotation when turning a knob to go from the minimum value to the maximum value.  You can set this to a short range like 20 degrees to very easily flip back and forth between a minimum and a maximum. So if you have a parameter that can be 0-127 values, and you set the resolution to 127, each degree of rotation for that control is equal to 1 value.  

Absolute - this means the encoder will correspond directly when the encoder is moved.

Relative - this means it is relative to the current position of the parameter.

Step - is the value of steps the parameter will change by turning the encoder. This has a value from 0-127. 

Assignment: this will set the assignment of the encoder to send a chosen message. 

CC - Control Change: a MIDI message capable of transmitting a range of values 0-127.

Note - is the pitch of a sound, and also its representation in a numerical order 0 starting at C0

NRPN - Non-Registered Parameter Number (NRPN) is part of the MIDI specification for control of electronic musical instruments.

Program Change - Patch Change, a type of MIDI message used for sending data to devices to cause them to change to a new program

Song Position - A MIDI event that carries the MIDI song position pointer message tells a MIDI device to cue to a point in the MIDI sequence to be ready to play

Start and End - can set the upper and lower limits of the control value. By default the Low Value will be set to the lowest possible value and the High Value will be set to the highest possible value. In this case the control will affect a parameter throughout its whole range. Adjust these settings if you want the control on the SL MkII to affect a parameter though only part of its range.

Velocity - Setting a fixed velocity for sending a note

Default Channel - is the channel that the template is set up on, you can as well set the parameter change on a separate midi channel.

Bits (7 and 8 bit) - this setting affects the maximum value that start and end can be set to. It does this by increasing or decreasing the number of bits in the message being sent; 7-bit limits to 127, while 8-bit extends the max to 256.

Pivot - is selecting where you want the centre point (0) to be positioned on the encoder. Going left will go negatively and right will go positively. 

This will allow you to edit the MIDI message being sent by the 8 Faders.

Assignment:

CC, NRPN, Program Changes, Channel Pressure, and Poly Aftertouch via the Faders.

This will allow you to edit the MIDI message being sent by the 16 buttons.

Behaviour:

Momentary - when the button is engaged and held down it will turn on the function and keep function engaged until you release the button. 

Toggle - when the button is engaged it will turn the function ON until you press the button again will disengage the function. Which can be set to engage upon Push or Release

Inc/Dec - when the button is engaged you can select to increase or decrease the function by how ever much you select in steps. Which can be set to engage upon Push or Release

Trigger - when the button is engaged it will turn on and then off the function. Which can be set to engage upon Push or Release.

Assignment: 

CC, NRPN, and Program Changes via the Buttons.

This will allow you to edit the MIDI message being sent by the 16 pads.

Behaviour:

Momentary, Toggle, Inc/Dec, and Trigger via the Pads.

Assignment (Pad Hit): 

CC, NRPN, Note, Program Changes, and Song Position.

Momentary > Note > Clip - 

Momentary > Note > Scale -

Assignment (Pressure): 

CC, NRPN, Program Changes, Channel Pressure, and Poly Aftertouch

Poly Aftertouch - an aftertouch signal, and corresponding MIDI message, which is specific to each key on the keyboard (as opposed to channel aftertouch, which is an average value for all held keys). This can be applied in varying amounts to each note played on that channel.

Channel Pressure - A MIDI event that carries the MIDI channel pressure.  This message tells a MIDI device that at a certain time, pressure should be applied to one of the MIDI channels similarly to applying pressure to electronic keyboard keys. 

This will allow you to edit the MIDI message being sent by the Mod Wheel.

Assignment:

CC, NRPN, Program Changes, Channel Pressure, and Poly Aftertouch via the Mod Wheel.

This will allow you to edit the MIDI message being sent by the Sustain, Footswitch, and Expression. 

Sustain

Assignment:

CC, NRPN, Program Changes, Channel Pressure, and Poly Aftertouch.

Footswitch

Behaviour:

Momentary, Toggle, Inc/Dec, and Trigger.

Assignment:

CC, NRPN, Note, Program Changes, and Song Position.

Expression 

Assignment:

CC, NRPN, Program Changes, Channel Pressure, and Poly Aftertouch.

This will allow you to edit the MIDI message being sent when applying key pressure (Aftertouch).

Assignment:

CC, NRPN, Program Changes, Channel Pressure, and Poly Aftertouch.