The timecode settings found here will be applied to tracks that are later added to the playlist. If you for example know you'll be importing audio-files with timestamps and you want to generate timecode for these at 29.97 ftp to the right channel, you can set this here once, and be done with it. These settings can always be changed later, but the new settings will only be applied to tracks added after the change was made.
A 'Track' is basically a container for an audio-file and the settings, markers and possible discrete LTC audio-file that goes with it. At any time, you can change the audio-file, tc-file or setting should you need to.
When creating a new playlist, you have the opting to batch generate TC. The generated timecode files will be stored (like all other imported and/or generated files) in the LTC Player folder hierarchy in your iCloud Drive. This will also create a Playlist with Tracks for all the created files.
All imported audio, generated tc-files and bounces are collected to the LTC Player folder in your iCloud Drive. This ensures that all files always will be available to you. Each playlist has its own folder with its recourses/audio-files maintained within this folder.
