If you are ever stuck or not sure what a control does you can use the Help menu to find the manual for that particular section of the software. There is also a direct link to the support forum in case you have a question you need to ask or just want to read what others are doing with No Hands Proxies.
"Update Log" will bring up a list of the most recent updates that have been made to the software so you can easily see what has changed.
"Detach License From Machine" does exactly as it says and will remove the license from the current machine and allow you to install on another machine so you don't have to get in touch with support to move to a different machine.