RMS-size
From CockosWiki
RMS Size refers to a time frame in which the average signal is calculated.
In compressors
A compressor working in RMS mode reacts to signal above a set threshold but it measures on the average level of the signal (over a period of time).
RMS-size close to 0ms is referred to as peak-mode, and is used in limiters.
A larger RMS-size can give smoother operation, and is preferred for leveling the signal.
Generally, setting this value low gives more compression, and less compression when set higher.
Master VU-settings
You can set the RMS window-size for the master VU-meter. Default is 500ms.