The Item Properties Dialog
Display Tab:

On the Display tab you can change this item's appearance settings on Orbit
such as Display Name, description and its picture.
Tip: By dragging an image file to the image preview box, you can easily
assign an image to that item.
Actions Tab:

On the Actions tab you can change what action this item performs when clicked.
there are currently 6 actions that can be done:
Open a file
Open a folder
Open a Web Address
Display a folder with files in Orbit (real files, not Orbit items)
Be a virtual folder in Orbit as to store Orbit items
Bring the Configuration Dialog up
Tip: By dragging a file or folder or URL into this dialog box, you can quickly
set this item to that file, folder or URL.