There are 4 types of parallax effect to select from.
1- Vertical Parallax On Scroll
This option gives the row background a parallax effect that makes the background move vertically with a different speed than the rest of the page as you scroll down the page. You can use the parallax speed option to set the speed of the the parallax background scrolling.
2- Horizontal Parallax On Scroll
This option is just like the vertical effect, only the background moves horizontally as you scroll vertically down the page. Again the speed of background movement can be changed using Parallax Speed option.
The only limitation for this effect is that it only works on repeatable backgrounds right now.
3- Interactive Parallax On Mouse Hover
Using this effect you can set a single background image for your row which interacts with the mouse movement over it. Just set the options and assign a background image to the row, set the parallax speed and you are good to go.
4- Multilayer Vertical Parallax
This effect is just like the one above but you can set more than one background image to a row. Yes that is right, you can assign more than one backgrounds on top of each other, make them transparent and they will move in different directions interacting with the mouse movement hovering it.