I've found it very helpful for looking up tools and explanations. I also uploaded it to Chat GPT and use it inside that AI as a project to get simpler or more extensive answers

Feel free to ask any questions you might run into as you use VS and myself and others will be happy to assist as best we can!

once you open the image trace feature you'll see the panel where you control the settings:

Select the image you imported into VS
Open Window > Image Trace
Pick a preset/style
Adjust a few settings
Hit Trace
Review the result
Expand it when you are ready to edit the actual vector shapes

By default, VectorStyler keeps the trace linked to the image as an image trace group. That means you can keep changing the trace settings and retrace. To edit the real vector paths, you use Expand Content.

To answer your second question about Preset vs Style

Preset = saved settings you apply as a copy.
Use it when you want a reusable starting point, but you do not need future edits to update every object that used it.

Style = linked reusable definition.
Use it when you want many objects to stay connected to one master appearance, so changing the style updates every object using that style.

VectorStyler’s manual says styles are “similar to presets,” but the key difference is that styles are stored in the document, applied as symbolic links, and changing a style changes all objects using it.

Simple rule
Use this When
Preset “Give me this saved setup once.”
Style “Keep these objects tied together so I can change them all later.”
Practical examples
Use a preset for:
A favorite stroke width setup
A saved brush configuration
A document setup
A shape effect starting point
A dash pattern you may tweak separately after applying
Anything you want available across projects or as a quick reusable tool

VectorStyler’s Presets panel contains presets built into VectorStyler and presets stored in application settings folders, and the Document Presets panel can store presets inside a document.

Use a style for:
Brand colors
Team colors
Repeated outline treatments
Text formatting systems
A common shadow or effect used across many objects
Reusable object appearances inside one design
Screen print designs where one color change should update multiple parts fast

Example: make a red ink color style, use it across 40 shapes, then change that style to navy. All 40 update. That is the point. The manual specifically says changing a color style changes all objects using it, and the same applies to shape styles.