The circles on the left of each Preset row help show what the Presets will look like. Presets with a single circle are Presets in which all lights will always appear the same. Presets with multiple circles offer you the ability to assign different lights to different colors, so multiple lights can work together to create a more complex look or effect.
Solid circles represent static Presets. The hue, saturation, and brightness of the color in the Preset will be shown in the circle, and once the Preset is selected, the light will not change as long as the light remains in that Preset.
Slices of different colors in the circle represent looping animations: lights will pass through each slice of color and then begin again. Soft edges between slices represent fades, while hard edges between slices mean the lights will snap suddenly from one color to the next. The bigger the slice of color, the longer the lights will be that color as part of the Preset.
To add more variety to Presets, some contain randomized values. For example, the "Random Colors" Preset will look different every time you select it because each light is assigned to a random color each time. The circle icons for these presets display the range of possibilities from the outside to the inside of the circle. Ranges of values can be selected not just for different hues, but for saturations and brightnesses too.