Since ASIO4ALL does not have sufficient knowledge of the underlying hardware/driver architecture, it can only guess the actual latencies involved. With these sliders you can compensate for the latencies unknown to ASIO4ALL such that recordings in your sequencer Software are properly aligned with the rest.
Note: In multi-device-setups the largest respective value of all devices will be used. Therefore, if different devices have different inherent latencies, audio placement will not be accurate for some devices!