After completing the initial setup, click the Gear icon to customize your track presets:

Most of the options are pretty self explanatory:
You can set the Name, Type (Audio/MIDI), FX Chain, Color, Input Source, Monitoring, Solo, Arm, Volume, Pan of the track preset. And you can choose where to load the new track: Before, or after the currently selected track, or at the end of your Live set.
Selecting a Color: For selecting a color you need to click on the colored area under the preset’s name, and it’ll reveal a color picker:

Selecting an FX Chain: If you want Track Presets to load an FX Chain / Rack into the newly created track, you can simply drag&drop a file from Live’s browser into the box.
The supported files are: .adg, .adv .amxd .aupreset .and .vstpreset


Create track:
You can decide where to load the new track:
• Before the currently selected track
• After the currently selected track
• After the last track in your Live set.
Unarm Others:
If enabled, the device will un-arm all other tracks in the live set before inserting the new track.
#
If enabled, the device will prepend a # sign in front of the track name so they get automatically numbered in Live.