Weight: Defines how strongly the lattice mapping affects the target. Weight one means that the control is total i.e. the mapped object fully obeys the lattice. A weight zero disconnects the object fully from the lattice. When using several lattices, a weighted average is computed. Note that in pointwise mapping, also the weight is pointwise. To control pointwise weights, put the mapped object to the point edit state, select some points and enter the desired weight.
Translate, Scale, Rotate, Skew: The transformation components of an object space type lattice mapping. If only Translation is set, the lattice controls only the object space position of the mapped object. If also Rotate is set, the lattice controls the orientation of the target. The Scale component has importance when the lattice is two or three dimensional. For example, if an object follows a mesh and the scale option is enabled, the object will shrink together with the mesh. Finally, the Skew component allows a non orthogonal lattice control making the object to shear together with the lattice.