The toggle switches are filters, what resources you allow to go along the lines. If multiple lanes have the same filter on, it's split evenly between them, and the lanes only take from what the planet doesn't need (that turn — you may need to ensure the planet keeps enough). The game is about chasing score — you'll receive it as you create more resources, which spreading between planets helps with — as long as you don't do it too fast.
Could you provide a screenshot of the text being cut off? I did test all the text to the best of my memory. If you're noticing that the currently selected thing has a short and long description, and the previously selected thing shown at the bottom has only a short description, that's intentional. The idea is that it's just to give you a short reminder of the last thing you selected, including planet stockpiles, if you need to remember it to make another decision or compare to the currently-selected thing.
