Refresh All: If you are running the functions under individual mode, then Refresh all will simply recalculate all the formulas in Excel. That means all MarketXLS functions will recall API to get new data. In a Group Mode, this will get the loaded list symbols and call the API for all the data and store into your PC to deliver relevant values to Excel functions.
Refresh Selected: This will recalculate the selected cells only. In Individual mode this will make the selected cells call API to get new data.
1 Min Refresh: This works best when you are running MarketXLS in group mode, it starts a thread with an inbuilt timer set at 1 minute. So, every one minute this thread will run and get all the data for selected list and store into your PC temporary location. All the formula in your Excel sheet will use this temp file to deliver values. In case of Individual model this will recalculate Excel to make all the functions call API to get new data.
5 Min Refresh: This works exactly like above the only difference is that the timer is set to 5 minutes.
What happens when you click Refresh All, when you already have timer based Refresh selected: Timer based refreshes are independent thread and will continue to run until you check Stop Auto Refresh checkbox. So, if you started 1 min auto refresh a 30 seconds ago, and you click on refresh all now, your data will be refreshed immediately and then also in 30 seconds when 1 minute of the timer completes.