Create New: Creates a new image layer ( blank layer , or from current object or from current text layer)
Position: automatic Alignment functions of image layers .
Rename: Give a different name to the current image layer.
Merge with background: Merges the current image layer with the background : after the merge operation the layer is not automatically deleted .
Duplicate: Creates another instance of the current image layer.
Copy to Object: Creates an object from current image layer. Objects are useful for different purposes, they can also be exported to file, to be then reloaded when needed.
Delete: Deletes current image layer : this command cannot be undone.
Alpha Channel editor: Opens a special editor to modify directly the layer alpha channel .