LP12 / EKOS Tonearm

I didn't get the manual with this setup, so I have a few questions. Having just purchased a few LP's, I'm trying to figure all this analog out.
The LP12 has a Red & Green light on the switch. I have never seen the green light illuminate. What is it for?
On the EKOS there's 2 dials, what's their purpose? They're both set @ 1.5

As always, thanks !!