Use Wish Lists: If you want to use wish lists you must select Yes from the drop down menu.

Customer Access to their List: You must decide if you want to use a button or a text link for customers to access the products they have saved in their wish lists.

You must put either %WISHLIST% (text link) or %WISHLISTB% (for a button) in your html store template in order for this to work.

Product Sold Out Text: This is what it will say whenever the product they put in their wish list is sold out.

Customer Wish Lists: This just tells you who has registered for a wish list and what items they have listed.