Selecting the Edit option takes you to the opportunity record and into edit mode for you to change any of the information. In addition, you can delete the record or archive the record so it will no longer appear in your pipeline by default.
The color palette at the bottom lets you color code your opportunities in the Kanban view. The small stars on the opportunity card allow you to highlight opportunities for special consideration. You can also easily drag and drop the opportunity into other columns as you work through the various stages of the sale.