Novelty means no replays. In some regions, replays are not allowed (because they can be sold to another player). This is a holdover from the good old days of one-balls and bingos. I think novelty means no replay scores and no match, but extra balls are OK; in some places even extra balls would be no good.
Director's Cut is the options the design team liked. Sometimes they get overruled by management or distributors.
The manual should document all of the variations, but in general, they are settings that are accessible from elsewhere in the menu.