AI - Auto Iris (Allows the camera to control the lens Iris for adjusting varying lighting conditions.
BLC - Back Light Compensation (Brightens the image so dark objects can be seen in strong light conditions, e.g. door entrances. If camera is facing a door it will cause the camera to dim and the lower indoor lightning means people and their faces will simply be dark blobs. BLC helps fix this. Also, most security cameras feature automatic white balance whereby the camera looks at the overall color of the image and calculates the best-fit white balance. Many security cameras are often wrong especially if the scene is dominated by one color or if there is no natural white present in the scene.
ATW - Auto Trace White (Upgrade from BLC. Usually called WDR or Wide Dynamic Range Cameras)
MWB - Manual White Balance (Manual version of above)
AWB - Auto White Balance (White balance allow adjustments for different "temperatures" of lighting. Incadescent light, for example, tends to have a lot more red and yellow than other lights, while fluorescent tends to be more blue/green. If this AWB setting is off, the colours may not be correct due to these light sources.
SL - Slow Shutter (Provides better low-light images, but allows more motion blur. Not very useful because blur can effect the camera badly and most people rather choose the smoother picture and add light)
AES - Auto Electronic Shutter (The automatic electronic shutter controls the exposure electronically using a less-expensive manual iris lens)
AGC - Auto Gain Control (AGC is something that is used in many different electrical circuits to boost and control signals. It is used in video and audio signals as well. AGC is probably best used in a video security camera for an indoor room that may have a little lower light than the other rooms in the building. AGC may introduce some "noise" into the video signal as well. Noise can appear as static artifacts in the video picture that will distort the image. Adjusting the AGC becomes important to ensure you are getting the best video image possible for the given scene)
MIR - Mirror (Mirrors the image)