Shift new markers by (frames): when creating new Markers you can use this setting to shift them to be closer to the EDL event you marked.
Add Frames before/after marker: you can export a specific Marker – even while recording – out of your EDL with the amount of frames chosen here, resulting in a dedicated timeline in the NLE of your choice.
Default colors and names for markers: set up to 10 names and colors for your Markers. These can be modified whenever needed before or after a recording session.
Final Cut Pro 7, Premiere and Final Cut Pro X support different marker types. In general Final Cut Pro 7 supports more different colours than Final Cut Pro X.