Yes. The top part of the drop down will change depending on which Device Handler is controlling that device. For example, when I select a boring white bulb, these are my only options:

If I select a fancy RGB bulb instead, my choices are very different:
Your current Device Handler can be found in the IDE page “My Devices” listed under “Type”.
(some are built-in, and some require a manual install)
Here is a sample screenshot for two of my Philips Hue bulbs. Yours are likely different.

Device Handlers can be changed by clicking on the name of the device, and then ‘Edit’ at the bottom.
(just be careful because many of the choices will not work with that particular device)
Personally, I would search this out on the SmartThings forum. Someone had to make this DH, and that is the likeliest place to discuss it with users.
Most of the time, parameters are kept blank, or use common sense. For example, if you want to set your AC to 10 degrees, you are limited by the lowest number available to your thermostat.
A good way to look at this is each new device and/or device handler has a learning curve to get a full understanding of it, but the simple commands usually work right out of the box.
In my opinion, SmartThings is far superior to Vera as far as programming goes. It just uses a different language that takes a bit to get familiar with.
Keep it up! You will be a pro before you know it!! 