you got it right, I'll just try and fill in with what parameters are displayed.
there are 6 tracks, one for each channel, measure is set to 4, track 1 length is set to 32, pattern p00 is loaded, there are 6 bfin/sample tracks and 4 pdx/turntable tracks. switch 4 flips between bfin and pdx tracks.
a composition that start with 64 steps playing pattern p00, note: track 1 in pattern p00 will play twice in this example.
mode sets the dsp algorithm for the channel
track mute is for muting the associated track, for a channel set to mode [dly] the sequencer may not be very useful
group assigns the channel to group 1, 2, 1+2 or mix
retrig enables the channel to react when a trig is sent to the trig bus
send retrig enables to channel to send trigs to the trig bus, for instance this enables slave loops to sync with a master loop, or an lfo to restart in sync with a tape loop etc.
input sets input
deck input is for using a pdx turntable to control the deck loop mode, this just selects which input on the external DECK hardware that the channel will react to
mode modsrc is the modulation source for the channel dsp parameter
aux modsrc is the modulation source for the channel aux send level
send modsrc is the modulation source for the channel mix send level
then there are some global parameters too..
solo mode sets solo level to pre or after fader
master dir out 3 and 4 will route something to these outputs
deck 1 and 2 startup time sets the delay between starting the turntable and starting the loop recording, more about this in the manual
play follow edit is supposed sync playback start from the the edit position in composition mode, but this is not yet fully implemented.
mix send is set to max
channel is assigned to MIX
aux mute is set to pre fader
channel is 4, there is no dsp mode assigned yet