This section of the report shows the date and time of most recent processing, the settings you used when last processing your project, the total error of your project (see also Final Total Error), and the Precisions / Standard Deviations of your photographs’ orientation parameters (and camera’s parameters too if this is a calibration project).
These nodes provide an indication of the overall strength of the most recent processing. Note that these values may differ from values in the Photo Table as no conversion for Scale and/or Rotation has been applied.
Of particular note are the types of warnings that have to do with points that have been automatically unreferenced. See the Reference Checker section for more detail. Also there is an option to automatically remove/unreference high residual points during processing (see Preferences - Processing and Cameras), which is separate from the Reference Checker feature. When points are automatically removed during processing, the points will be listed here (you may notice one or more green bars on the Total Error Dialog which is another indication of point removal).
Another key notification shown in this section is a list of photos that have been automatically set to “Do not use in Processing” (see Photo Properties). The photos listed here have been removed so that orientation and processing can succeed. Photos may be set to "Do not use in Processing", because either their angles were low and/or their point count was low.
You want to see small deviation values for all the parameters. In the calibration case you especially want to check that the deviation of a parameter is not significantly larger than the parameter. E.g. K1 is 1.2e-5 and K1’s deviation is 3.0e-5. This means that there is a 90% probability that K1’s actual value is between -4.8e-5 and 7.2e-5 (90% probability falls at twice the standard deviation (or sigma value)). This means that K1 is pretty likely also zero (0.0). K1 is then probably not significant and the calibration should be resolved with K1 missing. Note there may be other reasons why parameters in a calibration are not significant and those should be studied first (such as incorrect photographs or point coverage etc.).