This block of options apply general settings for improved experience.
Open Structure Panel: When you first load Oxygen editor, also open the structure panel.
Close Styles Panel: When you first load Oxygen editor, close the styles panel (left-side panel).
Click Component Name to Rename: In the styles panel, you will see the name of the component in the top left. Enabling this setting will convert the name to a button. Click the name to open a dialogue, enter a new name for your component, and save it.
Click Global Color to Rename: In your global colors, you will see the names of your global colors listed above the colors. Enable this setting to convert those names to a button. Clicking the name will open a dialogue to enter a new color name.
This setting needs a little more explanation than the others. In the event you are signed out automatically by WP while editing with Oxygen, the quick sign in dialogue will be displayed so you can quickly sign back in and continue working. Typically, you would have to refresh the page and potentially lose all of your work!
What this setting does under the hood: