Settings allows you to change the Description for the Rule without having to do a save as. This can be useful if the Description is holding notes on the changes made to the Rule.
By default, all Rules created in Rule Designer can be called with no restrictions.
Security
Many Rules will either provide a generic response back or store data. If the Rule built provides as part of the response back sensitive or personal information you should insist that the calling solution identifies itself using an API key. To turn this on use the drop-down box in Setting to select API Token as the Security Option.
Rule Type
Shows the selected Rule Type for this Rule. If a Rule Type has not been assigned one can be selected here