From left to right, It is damage, blast, fire rate, range and quark multiplier. The button on top of each of the icons is to increase the stat, the lower is to reduce. The reduction of a stat is so that another stat can be increased for free.
I/E for red, O/R for green and P/T for blue. Try to neutralize the cubes before they reach the ground or... or... nothing happens. (I haven't made it possible to lose yet. oops)