This controls the Root Transform for the majority of the Rig.
These position and rotation values will adjust the Hips in local space.
If the ReCycle button is ON, the adjustments made here will be automatically converted into the world position and rotations for the Hips, and the values will reset to zeros when you let go of the spinner.
If the ReCycle button is OFF, the local offset values will remain.
It is recommended that you leave the ReCycle button ON. The best reason to leave it OFF is, if you have a Hips Transform animation that needs to remain smooth and you need to add a small offset adjustment without adding a keyframe to the Hips that might interfere with the this motion. The Pelvis bone will be visibly offset from the Hips object if there are non-zero values in the Hips Offset spinners.
Simply the position and rotation track values. These are direct controls to these track values.