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Shader: Allows you to specify the type of light you want the selected light to be (Ambient light, Area light, Distant light, Point light, Spot light, Water light, Window light).

Color: Allows you to modify the color values for the currently selected light.

Intensity: Allows you to set the brightness for the currently selected light.

Cone Angle: Specifies the "width" of the Light’s "beam" if it is a Spotlight.

Cone Falloff: Specifies how narrow the "focus" of the Light is within its’ Cone Angle if it is a Spotlight.

Cast Shadows: Toggles whether the selected light cast a shadow or not.

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Target: Selects an existing Target for this Light to track, or creates a new Target.

Heading (X), Pitch(Y), Bank(Z): Controls the heading, pitch, and bank of this Light, relative to the Light’s User Heading, and, if applicable, the Target it’s tracking.