Field's description,

Element Id: "the element whose text, background or shadow color needs to be transitioned"

Color Pallete: takes a list of comma separated colors in any type supported by CSS (Hex, RGB, RGBA, HSL, HSLA or predefined names). Also you can provide the "Random Colors plugin" color.

Color Property: single/list of space separated values of (text background shadow), each value specifies which property to use in transition.

Transition Timing Function: for acceptable values refer to "https://www.w3schools.com/cssref/css3_pr_transition-timing-function.asp"