A few of the tooltips have typos and slight clarity problems, so I took it upon myself to document and attempt to fix the ones I found.

Do note I don't know how every function tied to a tooltip works. Lastly, let me know if my changes are clear enough and document any other issues you find in the replies.

• (Graphics) Texture Filter: Determines texture quality when viewed at oblique angles Three-Point is what the N64 uses. Certain textures are dependent on this option and thus look better Linear smoothes out textures None to disable filtering
• (Enhancements - Graphics) Enable 3D Dropped items/projectiles: Change most 2D items and projectiles on the overworld to their 3D versions
• (Enhancements - Fixes) Fix L&Z page switch in Pause Menu: Makes L and R switch pages like on the GameCube Z opens up the Debug Menu instead
• (Enhancements - Fixes) Fix Dungeon Entrance icon: Removes the dungeon entrance icon on the top-left corner of the screen when no dungeon is present on the current map Edit suggested by @stratomaster64
• (Enhancements - Fixes) Fix two-handed idle animations: Re-enables the two-handed idle animation, a seemingly finished animation that was disabled on accident in the original game Correction by @PurpleHato
• (Enhancements - Fixes) Fix the Gravedigging Tour Glitch: Fixes a bug where the Gravedigging Tour Heart Piece disappears if the area reloads
• (Enhancements) Disable LoD: Turns off the Level of Detail setting, making models use their higher-poly variants at any distance
• (Enhancements) Kokiri Draw Distance: The Kokiri are mystical beings that fade into view when approached Enabling this will remove their draw distance
• (Cheats) Easy ISG: Passive Infinite Sword Glitch. It makes your sword's swing effect and hitbox stay active indefinitely
• (Cheats) Shield with two-handed weapons: This allows you to put up your shield with any two-handed weapon in hand
• (Developer Tools) Fast File Select: Load the game to the selected slot below upon launch Use slot number 4 to load directly into the game's internal Map Select (Does not require the Debug Menu, but you will be unable to save there. You can also load the Map Select with OoT Debug Mode + slot 0) With slot 0 you can directly go to the File Select menu Attention: loading an empty save file will result in a crash
• (Developer Tools) Console: Enables the console window, allowing you to input commands. Type help for some examples
• (Developer Tools) Save Editor: Allows editing of values found in the current save file, such as inventory, quest status, equipment, and event flags for progression Edit suggested by @stratomaster64
• (Developer Tools) Collision Viewer: Allows highlighting of scene and actor collision Edit suggested by @stratomaster64
• (Developer Tools) Actor Viewer: Shows you the available entities in the current area and their information