The point of it
To keep notes on each entry, using user-defined categories such as whether it involves a Noun or a Verb, whether it's Positive or Negative. You can later sort the entries using your classification.
How to do it
With a concordance on screen, simply press a keyboard letter, such as V or N. To type more (e.g. "Noun"), double-click the entry in the set column and type what you want. See user-defined categories for more explanation, and colour categories for putting colour in this column .
The status bar shows you are in Set mode like this.
The column already has something written in it! Or, I mistyped..
If you have more than one search-word, you will find the Set column filled with the search-word for each entry.
To clear the current entry, you can type the number 0. To clear the whole Set column, choose Edit | Clear Set column.