Here is how to define a version.
Each system profile version has a name which is used to select it. The name does not contain any space.
You can give a title to make menus nicer to read.
Any sub-system without an archiving family will be archived using this one. Most of the time, system profile version are archived in one or two different family. This avoid repeating the archiving family over and over.
A system profile version is defined by telling Linuxconf how the various sub-systems composing it are archived. Or where they are archived. Sub-systems configuration files are archived in a family together.
If two system profile versions are defined so they archive one given sub-system in the same family, then the configuration files for this sub-system will be shared between the two versions. This means that a change done while a given system profile verison is active will be available when you switch to the other system profile. Switching between the two versions won't affect the state of this specific sub-system.
A family is just a single word. It can be any word. It becomes a subdirectory in /etc/linuxconf/archive. In this subdirectory, you will find archived copies of the various configuration file saved there. Inside the family directory, you find a directory hierarchy that duplicate the various directories normally found in a Linux system, such as /etc and /etc/ppp.
Several sub-systems may be archived in the same family.