Each property type must be able to give a string representation of the value, as well as a display string (which can be the same). Those strings are heavily used internally, for example to draw the value or to display its tooltip. It is also a way to transmit sub property values to a master grouped property allowing the possibility to create complex properties. Without entering the details here, it is a powerful way to make a property generic. When you design your own property types, or a new drawing manager, you will use those strings.
So let's give an example with colors: An RGB property value stores a COLORREF but also gives an hexadecimal string representation. So for white, it would be the string "FFFFFF". Without customization, an RGB property value only draws a raw block of color.

When associated with a special look class, the string is used to display the color value. In this case the display string is the same as the string representation.

There is a feature in the look class to modify the display string. In this case, the string representation is transformed to display the color in R,G,B form.
