Object modifiers are covered in detail later. However here is a brief overview. The texture describes the surface properties of the object. Textures are combinations of pigments, normals, and finishes. It contains information about the interior of the object which was formerly contained in the finish and halo parts of a texture.
Interior items are no longer part of the texture.
Instead, they attach directly to the objects. Bounding shapes are finite, invisible shapes which wrap around complex, slow rendering shapes in order to speed up rendering time. Clipping shapes are used to cut away parts of shapes to expose a hollow interior.