The Track-Back was designed to provide a method of notification between websites.
A SUMMARY is sent to any URLs listed in this box and that SUMMARY usually gets posted along with the other comments on the other site. It is up to the owner of the other site to edit, approve, or delete this Track-Back. On other WordPress site this is done automatically by using the Ping-Back which does NOT send the SUMMARY but instead sends a link to the site.
In WordPress this shows up in the INCOMING LINKS Panel on the DashBoard. This creates a verifiable connection between posts.
The CUSTOM FIELDS box is used to add custom fields to a post with META-DATA. This data is used by THEME DEVELOPERS and can be accessed in some themes and requires some CUSTOM CODE to be accessible.
The DISCUSSION box is where you can override the default boxes checked on the SETTINGS >> DISCUSSION Sub-Panel. The settings in this box apply to this one post only. COMMENTS can be allowed or not allowed and the same with Track-Backs and Ping-Backs.
The SLUG box can used as a quick edit to the SLUG (the end part of the PERMALINK). This box will reflect the present post slug. This box can be edited and the edit will replace the end slug when the post is PUBLISHED or UPDATED. Remember all SLUGS must be unique.
The COMMENTS box holds any comments related to this post. It gives the AUTHOR, DATE of the COMMENT the EMAIL ADDRESS of the sender and the IP ADDRESS on the sender. It also give a summary of the COMMENT. From this box COMMENTS can be UNAPPROVED, REPLIED TO, QUICK EDITED, EDITED IN the COMMENTS SUB-PANEL, marked as SPAM, or TRASHED.
You can also view the comment on the site or send an email to the sender by clicking on the email address.
The AUTHOR box provides a list of AUTHORS. The AUTHOR can be selected from the list.