Location Administration relates to location maintenance, including uploading locations and allowing locations to maintain their data on their own.
Allow Location Registration: This turns on the Register Link that can appear on the locator interface. When someone clicks on this link, they can register as a location administrator to enter and maintain their own data (depending on how you configure it).
Allow Locations Admins to modify locations: This allows location administrators and to update their data (i.e. change address information) any time after registration.
Approve User added locations: This posts locations in the admin for approval before they go live in the locator. An account administrator must approve the locations before they go live.
Approve User modified locations: This posts location updates in the admin for approval before they go live in the locator. An account administrator must approve the modifications before they go live.