The Band Setup tab (pictured below) is available for some types of imagery with 3 or more bands of data. This tab allows the user to control which bands of data are used for the red, green, and blue color bands. This is a very useful tool when trying to extract different types of information out of multi-spectral imagery.
Color Channels
Specify which band in the image to display in each of the display color channels.
Preset Band Configurations
This contains some commonly used preset band orders (RGB and BGR), in addition to selections for grayscale from each band.
ADVANCED: Ignore Built-in Alpha Channel if Present
This option is for advanced users to allow disabling of the alpha (translucency) channel for an image. This is useful for images with bad alpha values (like all set to completely transparent) for seeing the colors without applying the alpha values.