Widget Title is the text going into the colored bar
Number of Posts is how many posts to display. Some designs work best with a value of 3.
Show Title toggles displaying the title
Show Author toggles displaying the author
Show Date toggles displaying the date
Show Summary toggles displaying the summary text
Summary Length is how many characters to display from the posts’ content before cutting off and displaying an ellipses.
Show Post Listing Link toggles whether or not the button at the bottom that would link to the full listing (such as “View All”) is shown.
Individual Post View More Title is the text to display to prompt the user to read the rest of the post at its url.
View More Posts Title is the title of the button below the list that least to a listing of all the related.
You can change the style this lists of news items is displayed in via the Display Style option in the Style tab.