1) In the toolbar you have the option of a drop down box "Proof ICC profile" Mine lists "adobe RGB 1998" four times and "SRGB...." three times. Why is this?? Why not once each?
Capture One looks in every Colorsync folder for profiles, and this includes every user's library, the system library, and the two folders installed by Photoshop that contain profiles for that program: "Profiles" and "Recommended". If you have the same profile in each of these folders then each one will be listed in that drop down list.
For example, in the case of the Adobe '98 profiles:
One is in user/library/Colorsync/profiles
One is in System/library/Colorsync/profiles
One is in System/library/Application Support/Adobe/color/profiles
One is in System/library/Application Support/Adobe/color/profiles/recommended
2) Capture one gives you the option of using the colour editor Image>Colour Editor. Why might you wish to use color editor and what for?
The Color Editor is a profile editing applet. It allows you to tweak & save existing ICC camera profiles using any image you open in Capture One.
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Phase One forum is another good place to ask questions (it's under reconstruction at the moment) and you'll find difficult questions answered by a Phase One customer service rep.