This menu toggles various effects which can be used for the 3D viewer. If a check mark is present in the menu, then the effect type is used in the 3D view. If this option is not selected, then that type of effect is not used.. If the checkbox is selected, then that effect is used in the 3D view. If the checkbox is cleared, then that effect is not used.
View - Effects - Fast Rotate
View - Effects - Wireframe
View - Effects - Perspective
View - Effects - Transparent
View - Effects - Lighting
View - Effects - Fixed Lights
View - Effects - Metal/Brick Colors
View - Effects - All Levels Appear Equal
View - Effects - Auto Scale