As you can see this looks a lot like the flash timeline, this makes it easy to work with because of its familiarity.
Now the layers are dedicated to certain functions. First is the Position of the object on the stage. Next is the rotation of the object and the last is the scale of the object. This is one of the best parts of the program. If you want to animate the model all you have to do is place your cursor in the key frame that you the animation to end in, and then go to the stage or the track balls and turn, move or scale the model. The program does the rest; it gives you a visual representation on the timeline looking much like a motion tween and keyframes that can be edited. You also have the player on the timeline just like Flash and you set your frames per second on the timeline also. Like I said very familiar interface making workflow great.