Product type editor is used to control all aspects of the product type settings, properties, rewriting rules and everything else. Since product type is basically custom post type, some elements are related to setting of the post type, but nowhere near as complex as custom post type can be.
Editor has 4 tabs with options. Always make sure to go through all options, or you might end up with the broken product links, missing elements or things like that.
First tab is called Basic, and it is displayed on the image on the right with all options visible. Product type name should be lower case only, no special characters and no spaces. When you save product type, if something is wrong plugin will make change there or give the error warning. Icon is used for the admin side menu. Description is not required. Active options can be used to temporarily disable product type without loosing it with deletion. Plural and singular labels are required and used to generate all other needed labels.
Rewriting slugs has 3 elements for: single product page, products archive and comparison pages. If you leave any of them empty, product type name will be used. And finally, select taxonomies you want to attach to product type.
Each product can have images, videos and links added. This tab here is used to set up and limit these resources. For links you can set up additional rel attribute and target. Media elements for each product are added as the meta box on the product/post editor page.
Uploaded images are handled through WordPress media library, and added to product will also be attached to post, so you can handle them easier.
This is the main product type editor panel where you can define specification properties. You can have as many groups you want, and each group can have one or more properties. There are a lot of buttons and options, and it might look a bit intimidating, but it is not very complicated at all.
Groups can have names and visibility properties. Visibility is controlled by the pin icon. You can set where the group will be used: single post page, archive or compare page. Quick visibility is used for some special rendering where only few properties are needed. Same visibility control is used for each property also.
Properties are bit more complicated. Each property in the grid has 3 elements: type, name and code. There are many supported types you can use, and some of them have additional settings you can control. Name is used for display purposes, and code is used for saving data into database. You can’t have two properties for same product type with same code, names can be reused. Each property has 2 icons, pin for visibility (same as for groups) and gear for additional settings. Settings popup panel lets you modify extra settings for different types (predefined values, units…).
Grid elements support drag and drop so you can move things around, move properties from one group to another. Plus and Minus icons are used to add new properties or remove them.
Each product can have 5 different pages: specifications, main review, users reviews, related products and media page. One of these needs to be set as main, so that main product URL goes to that page. For all pages you can set slug to be added to end of the product URL, and if the page type will be used at all.
List of Features is subset of standard WordPress custom post types features that you can you active or not. And, last one is to upload custom image to be used for admin menu.
As you can see, setting the product type is not very complicated, and changing things later to experiment with some options is easy to do. Each time you save product type, all rewrite rules and cache for the product type is flushed and recreated.