Settings scope
All clips
Settings for decides which clips your changes reach. By default that is all clips, so a change in the panel goes to every clip on the timeline.
This clip
To give a clip its own settings, select it and set Settings for to this clip. Your changes then go only to that clip, or to every selected clip when you select several.
Configs
A new clip takes its settings from the interpolini.ini in its folder. When the
folder has no such file, it takes the settings on screen, which start from Default preset in
Settings > General. Lookup order has the full rules.
To load another config for the selected clip, choose it in the Config list.