Hey, iabookman. I found it a bit confusing at first, too. As far as I can tell, the choices are either pre-made templates or elements of other share systems arranged in a way that suits your needs. The "share and enjoy" bit is something from Sociable, I think (I used Sociable for WordPress 3.0 until switching to WP Socializer recently). If you were to install that plugin separately, you could edit the text. I'm not sure you can do that here.
In any case, you can click on "Placement" in the left hand column and add the elements you see there, then click "Update." I use Template 1 (tab showing above the Placement screen) for buttons above content and Template 2 for buttons below content (managed using the check boxes on the Placement tab).
For those buttons where you can't choose the type / graphic right from the Placement screen, you can go to their individual listings on the left. I inserted the Retweet button, for example, but to choose the type - Twitter official button vs. Tweetmeme - I went to the "Retweet & Digg" tab on the left, chose the one I wanted, then clicked Update.
(I believe if you then go back to a pre-made, it overrides your manual settings, but couldn't swear to it.)
Does that help at all?