The first button in the object tools frame is a clone object tool. The second button is to load in textures. The third is to manually select an object.
The edit box [C-] is to change the objects cull value from 0 to 1.
The edit box [G-] is to change the objects ghost value from 0 to 6.
The edit box [T-] is to change transparency value from 0 to 1.
To apply a texture to an object you can click through the list of loaded textures and have the object selected to apply the image. The orange light button is to apply a color to a selected object.
Using limbs can be tricky at times. When limbs are linked together the axe's tend to change around and are harder to position and animate. Make sure you have a limb selected from the drop down in the limb tools frame or you will be unable to edit the objects properties.