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The Market Overview can be displayed as either 'Panes' in a single window or in 'Tabs' were each of the three elements can be displayed in it's own window.
The image below is the Market Overview screen displayed in its default state as a single 'Pane'
Displaying as 'Tabs' the overview screen is split into three area's, 'Grid', 'Chart' and 'Information', you can select which of these you wish to view using the tabs in the bottom left corner of the window.
Market Sync
This option let's you configure which market is displayed on the Market Overview screen.
Bet Angel Market - This will display the market you currently have on your main trading screen ie, your ladder or one-click
No Sync - This will prevent new markets being displayed in the overview window, you might want to use this to always keep the days feature horse racing market in the overview window even as you open and trade other markets in the run up to it.
Market Under Mouse - This will display the market your mouse cursor is currently hovering over, this is useful if you have multiple ladder or one-click screens open as it will allow you to move your cursor over any of them and see that market in the Overview window. 
Guardian's Selected Market - This will display the market you currently have selected in your main Guardian window.
Close Market - Closes down the Market Overview Window.