This group of controls allows you to create, modify and delete PA-RUN ShellLink Shortcuts. These PA-RUN ShellLink Shortcuts can be used to manually start PA-RUN by double-clicking on them or by pressing their associated keyboard-hotkeys.
What are ShellLink Shortcuts or "Links"? These are small system files with a ".LNK" extension and are located in the Windows Start Menu, on the Windows Desktop, etc. but can be created and placed inside any directory.
These "LINKS" are being used to start a specific program. For example, this is the Link to start PA-RUN placed on the Windows Desktop:
Note the small overlay on the Link icon 
which indicates that this is a Shortcut Link.
Each Shortcut Link can have an associated key-combination such as SHIFT+ALT+R for example.
▶ Right-click on a Shortcut Link on the Desktop or in the Start Menu and then select "Properties" in the context-menu to see and modify the properties of the Shortcut Link.
The PA-RUN Shortcut Links can be used to start PA-RUN with a custom keybord-hotkey, by double-clicking or from automation-scripts. For example, with a PA-RUN Shortcut Link placed in the System32 directory, an automation-script does not need to know the exact location of the PA-RUN program file: It can just use the word "parun" to start PA-RUN (and perhaps send a specific file to PA-RUN).
See also: Global Hotkeys