Hide my online/offline/AFK status
This setting places a question mark icon next to your name in people's contact lists where the online checkmark of AFK icon would otherwise be displayed to indicate that you are online or in "Away From Keyboard" (AFK) mode.
Hide my current world
This setting allows you to hide which world you are currently in so that it will not be displayed next to your name in people's contact lists.
By default, if someone else has you on their contact list, they will be able to see what world you are in when you are logged in.
Block join requests
With this option set, if anyone tries to send you a join request they will receive a message stating that their request to join was refused.
Block file transfers
With this option set, if anyone tries to send you a file they will receive a message stating that you did not accept their File Transfer request.
Note that for security reasons, you will always be asked to verify a file transfer request before it is accepted.