Bleed X and Bleed Y: Bleed option extrapolates texture edge colors outside texture mapped area.
Blur: A smoothing filter. The measuring units is the proportion
radius of the smoothing filter/image width
Therefore, quite small values are usually sufficient. Level 0.01 smoothing corresponds one percent of the image width which usually blurs the image quite a lot. Note, that 'Gradient' feature also smoothens the pixel boundaries, but smoothing uses only 2*2 pixel blocks. Blur smoothing is not limited, it can use e.g. 10*10 pixel area or more for blurring.
MipMap: A special antialiasing technique for texture maps. If the value is greater than zero, the program computes a sequence of mipmap images. Each image halves the resolution of the previous one. The last image is only one pixel wide and contains the average color of the whole original image. The render engine uses interpolated colors from mipmaps whose resolution is suitable for the image area being computed. The higher the MipMap value, the more low resolution mipmaps contribute into the result.