An Edit panel typically lives within the middle edit panel but it can also be made into a separate edit dialog window by selecting the Object/Edit Dialog menu option.
All objects have a corresponding edit panel, which enables the properties ("members") of the object to be edited. Edits generally show a list of name/value pairs, with an appropriate control for each value type. A tooltip and statusbar tip generally accompany each control, to provide more detailed information on the item.
When you view an item for the first time, the Apply and Revert buttons at the bottom are both disabled - this means the object has not been changed. As soon as you make a change to any field (except as noted next), the Apply and Revert buttons will be activated. You can continue changing fields, until you are ready to commit your changes by pressing Apply. Once you Apply, the object is updated, and the buttons again are disabled. If you change your mind, and would like to cancel making your changes, press Revert - this will restore the object to the state it had before you started editing it.
All simple controls like check boxes, selectors, etc will be automatically saved/updated if you change that value. In other words, it is the same as editing the item and hitting Apply in one step. Any other pending changes will also be applied at the same time. You cannot Revert from autoapply.