Screen Elements → Status Line

This button displays the currently selected connection type and for serial connections it will display line speed and parameters. Clicking on the field with the left mouse button brings up the Options→Session Profile→Connection Type dialog. There you will be able to select and configure the I/O methods (connection types).

This button displays the current terminal emulation. Clicking on the button brings up the Options→Session Profile→Emulation dialog which will let you choose from the list of available emulations.

This button displays the currently set file transfer protocol. Clicking on the field brings up the Options→Session Profile→File Transfer dialog where you can select and configure transfer protocols.

The four LEDs in the status line provide two services:

If they turn green, your host has requested the VT102 LED service and sets the LEDs according to the application you run. The LEDs will stay green until you change the emulation or select the Clear Screen/Reset function from the View Menu.
The LEDS can be turned on/off in Options→Session Profile→Window.
If they are red they display status information:

This checkmark displays the name of the log file and opens or closes it.

This shows how long you are (or have been) connected to a host.

This shows the size of the window (columns x rows) or the current cursor position (configured in Options→Program Settings→Window).