If the selected Control is a System Control, then this banner is displayed - no options within the properties will be editable for System Controls, so they all appear greyed out.
This is the internal unique name for the control. It isn't displayed to the Workflow builders or agents, but is displayed in the Control Editor list and in the Database.
This is the displayed name in the Custom Controls list in the Workflow Designer, and isn't required to be unique - although it's recommended that it is to reduce confusion.
A Description can be added to the Control. It's not displayed anywhere else, and is simply meant to assist others in quickly determining the purpose of the selected Control.
The functional code of the Control is defined in this window, with any specified values within it being replaced by the attributes defined below when the Control is placed on a page.
The actual attributes of the control are configured here, these are a mix of the tabs and options to be offered in Field Properties, and accessible or modifiable characteristics of the Control within a Workflow.
Any Control can be duplicated, creating a copy of the Control that shares in all of its configuration. As modifying a System Control isn't possible, any desired changes to a System Control must instead be made to a duplicate.