The Settings tab has two sections and no preferences — nothing here is remembered, and there is no theme, units or naming option.
Danger Zone
Delete All Variables removes every local variable collection in the file. It shows a confirmation listing how many collections and variables it is about to delete, and the line underneath tells you the current counts.
It cannot be undone from the plugin.
Import Presets
Both presets always create a new collection, so importing twice gives you two copies.
Import Tailwind CSS creates five collections: tailwind (22 colour families × 11 shades), tailwind-spacing, tailwind-width, tailwind-typography and tailwind-screens.
Import Basic Tokens creates a starter set: brand colours that already have managed shades attached, status colours (success, error, warning, info), screen breakpoints, and managed step scales for spacing (base 16, ratio 1.5) and font size (base 16, ratio 1.25).
The second is a good way to see what managed shades and steps do on a file you do not mind changing.