There is no documentation on how this feature is supposed to function and what it is supposed to do.
A search for Timeline Display Settings is unhelpful:
Timeline Display Settings Search
The first item in that search goes here:
Creating / Changing Sequences
The totality of the explanation is:
“To customize the style of the video track, click Timeline Display Settings, the wrench tool on the timeline panel”
(no individual explanation of each setting, no links to explanation)
A note tries to be helpful:
“The checkbox for Display the project item name and label color for all instances has been moved to Timeline Display Settings”
(when was this moved? ie. what version? where was it moved from?)
If Adobe cannot document and explain how a given feature works, how is a user supposed to know if it is functioning as designed (ie. whether there is a bug to report or not)?
R.