Preset reference is used when setting a predefined reference for the drive. The FC 302 has 8 preset reference points (Par. 3-10.0....3-10.7).
The Preset references are selectable from digital inputs, but you need to set up the inputs you want to use (Par. 5-1x). 3 bits a possible (Preset ref bit 0, 1 and 2).
If you set Terminal 18, 19 and 29 to those respectively this is what you'll get:
T18 T19 T29
0 0 0 = Preset Reference 0 (Par. 3-10.0)
1 0 0 = Preset Reference 1 (Par. 3-10.1)
0 1 0 = Preset Reference 2 (Par. 3-10.2)
1 1 0 = Preset Reference 3 (Par. 3-10.3)
0 0 1 = Preset Reference 4 (Par. 3-10.4)
And so on (sory the layout of the forum does not permit me to space the way I wanted to)
If you are using a bus system, I'd not bother with preset references but rather make that in my PLC and just use the reference word to send it to the drive.