On this tab you can move the active page/folder or file to any other Location in the Overdrive site, or check additional boxes to make it appear in multiple places. This will update the folder or file Location in Google Drive.
In the Folder tile type you can choose to show the Locations column, so users can see where else files appear. Locations are also used in Overdrive search and filters, so your users can find files that appear in certain folders - in this way Locations can be used as "tags". For example, consider a folder full of images of sports that you have also added to relevant sub folders: "Soccer"; "Basketball"; "Football"; "Ice Hockey". Using the Overdrive Locations filter a user can filter the images to show only photos of Football and Ice Hockey.
The Locations tab will not appear on Home Page settings since the Home page cannot be moved.