Controller Color is the color they appear in the comp. Controller Label Color and Limb Label Color set the colors of the layers in the timeline.
Enabling Delete layers after rigging will make Limber automatically delete the shape layers that you rig into limbs using the Rig & Pose functions. We recommend leaving this setting unchecked and doing it manually but more experienced users may prefer to use this option.
The suffixes that Limber applies to your layer names - Ankle, Hip and Leg in the image above, are stored as presets. To add a new preset, click on the + button. To remove a preset, select one and click on the - button. To edit a preset, select it from the list and then click and edit the textfields on the right. You can change the display order of presets by clicking the up or down buttons. Presets are saved locally when you hit OK.