This brings up the "Anti-aliasing effects" interface that lets you set anti-aliasing options for the viewer. Anti-aliasing is a technique to reduce jagged lines and make objects appear smoother.
Smoothing
This is a relatively fast anti-aliasing technique and applies to lines and points only.
Multi-pass
Uses the accumulation buffer technique that requires more processing time than smoothing but applies to the whole image and results in superior anti-aliasing.
Number of passes
Sets the number of passes the "multi-pass" rendering algorithm has to go through to produce anti-aliasing effects. Higher values result in better anti-aliasing effects, but also take a processing time.