The Context Menus page is very similar to the Toolbars page. It lets you configure various context menus (right-button menus). The number of context menus are fixed so you can't create your own like you can with toolbars, but they can all be edited.
These menus are used when you right-click on the background (i.e. not on a file or folder) in a Lister's file display area. The menu that appears depends on the type of folder that's currently being viewed.
If any of your context menus were backed up and replaced as part of the upgrade process, the backups will be shown here in their own category. You can edit them to copy commands out into the new menus.
To edit a menu from this dialog, double-click it, right-click it and choose Edit, or use the Edit toolbar button.
The menu will be displayed in a popup window - kind of like a floating toolbar - and it's this window where you can edit the buttons on the menu.
You can also choose Edit alongside default. This opens the current menu as well a read-only copy of the default menu at the same time. You can drag commands from the default menu into your custom menu if you need to access any default commands you've deleted or changed.
On the right-hand side of the dialog page are the same Options settings that are found on the Toolbars tab. Select a menu from the list to make changes to these settings.