Our windows are the same. The default file size is often best, but the choice is yours. The lower the quality, the smaller the file.
Click the caret to the right of Lossless Export. 
Leave it set to Auto Detect, to let VP decide whether Lossless is possible, or Off (re-encode) to force re-encoding, which will take longer to export.
If a new version is over-installed (no need to uninstall), the recent projects list should be intact. It's always there.