This is usually routine, a way some list owners use to keep the level of discussion at a scholarly level that appeals to most members. Many other lists are open to anybody who is interested. This is usually the second choice. This tells you whether or not the list is edited. Edited lists include comments that are selected by and often commented upon by the list owner before the entire list receives them.
Unedited lists are self-governing.
Sending address, or list address. You can also pull down the Edit menu to Find and put the word Woolf in this way. Either way can save you a lot of time. Once you join a list, it is prudent to wait awhile to observe the conventions, especially in an unmoderated list. But when you do this all of the time it is known as lurking, a habit some list participants find objectionable.