The Layer Properties dialog box gives you control over the layer's name and its identifying color, two very important control items. For example, if you're working on a 20 layer document, and you're not naming the layers, after a while you'll loose track of what each layer contains. When you name the layers, you have a visual identifier of the information contained with that specific layer (assuming you name the layer correctly). In addition, you can use the colorize option to apply a color to a specific group of layers—coloring all the type layers red, for example. Layer properties may not seem like much, but they go a long way to helping you organize a complex, multi-layered document.