The Panelview sets an optional notify bit when a new value is entered or a list pointer is changed etc. That bit stays set until the PLC turns on the Handshake bit which lets the Panelview know that the value has been received by the PLC. The Panelview will then turn off the Notify bit.
The Panelview also has (optional) separate fields for display and entry tags for most of its objects.
The Panelview can and will lie to you about the contents of its tags, retaining old values depending on comms issues, and how the power up options are set up. This may be the reason for having those extra tags and accompanying PLC code.
I have not yet worked with the Red Lion HMI, but if it is like most normal HMI applications, you can probably do away with the notify and handshake logic altogether.
You'll have to examine the PB32 app and the PLC code closely to figure out if there are any special uses that require them.
There may be some equivalent feature in the Red Lion that someone else can comment on.
Hope this helps.
Paul