Quoting from the LV help:
"If the queue is full, the function waits timeout in ms before timing out. If space becomes available in the queue during the wait, the function inserts the element and timed out? is FALSE...
timed out? is TRUE if space in the queue did not become available before the function timed out or if an error occurred."
That means that if the queue isn't full, the enqueue VI enqueues immediately. If the queue is full, the VI waits for the timeout, and if during that time no element was taken from the queue, it returns with the timed out output. The same is true for the dequeue functions when the queue is empty. The timeout affects enqueue ops when the queue is full and dequeue ops when it's empty.
A queue is used for synchronization. For example, if you have tasks happening at different rates or at different intervals. If you're getting the data faster than you're charting it, your queue will just get bigger and bigger. If not, you're fine. The best way to learn about the functionality is to play around with it some more and see how it works.
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