The default filter date defines the assets shown in the catalogue that fall into the defined timespan. Users can always override this setting when accessing the catalogue. Remember the timespan applies to search queries too. It does not affect the API.
Playlist And Virtual Asset Authorization Mode defines how access to assets works when assets are referenced in playlists or virtual assets. In the default mode (Complement) the permissions of the original asset cannot be overruled. In Complement mode, these can be overridden.