This feature adds the hyperlink List Properties to the List Settings page in the General Settings section.
When you click it, a page containing all sorts of list properties are shown. The more general properties are shown in the List propeties table:
The collection properties are shown in expandable panels.
You can click the + sign to view the details. Take for example the Content Type properties.
Some of the panels contain a table with a View Details hyperlink in the last column. You can click this hyperlink to see more detailed information.
You also get detailed information about the workflows that are active on the list.
Click the OK button to return to the Settings page or click the breadcrumb to return to your list or site.