Looks to be normal. The files listed at the right are those you have previously saved to the Favorites folder. Scroll down to see them all.
Give your new project a name, and it will be added to that list. Click on a VPJ and it will load the project associated with it.
In the left column, choose another folder and store your latest VPJ there if you like.
Normally, VP saves to the folder used by the source files. Thereafter, using SAVE overwrites the VPJ file in that folder.
Use Save AS once, to another folder, and that folder becomes the VPJ Save AS location, and remains so even if another project is later opened via the caret to the right of the Open icon | recent files drop-down menu.
If instead a VPJ is opened via Menu | FILE | OPEN PROJECT FILE, then the Save AS choice will switch to the folder where that project resides.
The Display tab affects start-up only: choose from blank, previous project or help prompts.
