The 3rd and 4th pair refer to a situation where you're holding the button down and not releasing it. In this case, the button will take the color according to its last state (T/F). Look at the attached example with the crazy colors. Click and hold the mouse down and you'll see.
The blinking option is for the 'Blinking' property. When you set this property to T, the button will blink between its current color and this color.
___________________
Try to take over the world!