Timing advance is fixed... if power is 1 or greater, the timing is advanced. You have no control over that.
The two different settings control how much extra fuel is added at a particular RPM and boost level. The torque setting adjusts the fueling starting at 800RPM, peaking at 1200RPM through 1600RPM, then declining to 0 additional fuel at 2900RPM. The higher the number, the more it fuels, but the RPM points remain the same.
The power setting controls additional fueling starting at 1200RPM, and peaking at 2900RPM. Where the two fuel maps overlap, the effect is additive. If you graph this out, you'll see that the power level means nothing below 1200RPM, and the torque level means nothing at 2900RPM. Between those two, the amount of fuel delivered is a combination of the two settings.
Boost also factors into the amount of fuel delivered, as the box will adjust it's overall amount of fueling based on the boost level (ie. no additional fueling below 12psi, and increasing levels of fueling up to 33psi, at which point full fueling is achieved)
These RPM points (and boost levels) were from the first (aggressive) TST program - they may not apply to the newer programs, but the concept is the same.
-Tom