Diffuse sets the diffuse color of the material.
Specular sets the specular color of the material. Specular affects the shininess of the surface.
Ambient sets the ambient RGBA reflectance of the material.
Emissive sets the emitted light intensity and color of the material.
Transparency sets the opacity of the material.
Glossiness sets the tightness of the specular reflection. The lower the value, the broader the highlight.
URange specifies the maximum number of UV tile regions along the U dimension. This value is only required if assigning a sequence of maps to Diffuse Texture.
Initial Tile Number sets the tile number of the first map in a sequence of texture maps assigned to Diffuse Texture.
Show Textures displays texture maps assigned to the Diffuse Texture field, on meshes shaded with the current material.
Diffuse Texture points to image maps that will be displayed on the surface of meshes assigned to the current material. Show Textures and Display>Textures must be on to view the maps in the 3D View.