The view options change the interface displayed while in the redactor. They do not impact exported videos. The currently available options are:
Multicolored objects - This will display boxes in a range of colors to allow easy and immediate differentiation of objects. It is selected by default. If multicolored objects is unselected all boxes will default to the red color shown in the image.
Show object labels - Overlay an object label to the box. Like the Multicolored objects option this can be used to aid in object differentiation. If show object labels is unselected then no object numbers will appear in the box, like shown in the image.