This menu provides advanced settings for macro recording. The Practice ROM implements certain hacks to keep macros in sync (See About Frame Advancing and Recording). All hacks are enabled by default. Disabling the hacks can cause issues and desyncs, and should only be done if required. For example, when recording a setup that is sensitive to room loading lag. For such use cases, the hacks should not be kept disabled longer than necessary (i.e. disable only when recording that particular section).
The wii vc camera setting enables a camera quirk that is present on the Wii VC versions of the game. This setting can be used to sync macros that were made on Wii VC when played back on N64, or vice versa. It is enabled by default on Wii VC versions of The Practice ROM.