Please refer directly to the ClyphX Pro manual for this product.
At the heart of ClyphX Pro is an extremely powerful Action dispatching engine that allows you to trigger a wide array of Actions from a variety of trigger types. However, this engine does not support the use of continuous controls (knobs/faders/encoders) or LED feedback to indicate the state of things going on in Live. ClyphX Pro Bindings fills this void.
ClyphX Pro Bindings allows controls on MIDI controllers to be dynamically bound and rebound to parameters in Live. This provides functionality that is somewhat similar to MIDI mapping in Live, but is far more dynamic in the sense that your bindings can change over the course of a Live Set, you can bind to parameters (such as parameters of the selected Track) that cannot be MIDI mapped and your bindings will work with any Live Set!
Of course, this functionality is tightly integrated into ClyphX Pro and uses the same terminology used in ClyphX Pro for specifying parameters to bind to, so there is virtually no learning curve – just more possibilities.