Number and Type of Pages - You can limit the number of results the nav will show, and which page types it will show here. You can also set it up to only show pages that have the "is_featured" custom attribute turned on, just like the Page List block.
Location in Website - Pick where you want to pull results from. Anywhere, just sister pages at this level, just below this page, or beneath another page of your choosing.
Display Format - This will change the results view. Flat just shows months, Hierarchy shows years that expand to show months that expand to show pages.
Open by default - Lets you control what month to have open on page load. Either the month the current page's created date is in, or the current month on the server.
Page Info - choose if you want to include page descriptions in this view.
Truncate - limits how much of the description you want to show.