Fox Float R - what's the shiny red "rebound" knob?

Rebound is what controls how quickly your shock returns to its full extension after being compressed. with the rebound on the least, the shock will extend quickly, and the more rebound you add, the slower it will get

Propedal is fox shoxs platform dampening. What this means is that the propedal trys to reduce the pedal induced "Bob" that full suspension bikes suffer. All it really does is make the first bit of the shocks travel stiffer to reduce pedal bob. Propedal is found on all fox rear shocks, but on the lower R model its factory set and non adjustable, but on the higher end shocks such as the dhx 5 and the float rp23 the propedal is adjustable by means of a blue coloured knob or lever.

Hope this helps, anymore questions dont hesitate to ask!

another way to see what rebound is, turn it all the in one direction: see how 'bouncy' it is? now, turn it all the way in the other direction: see how 'bouncy' it isn't? that's rebound for ya

That was helpful. Thanks!