The default pattern bit is the 1/16" tapered ball nose bit. This bit is automatically assigned by the software for all patterns. You do not need to tell it what bit to use for the patterns. If you view the "board settings" you will see what bit options are available. Once assigned it is the bit used for the full project, not individual items/patterns on the board.
Yes you will need to set the depth and height for the patterns you place on the project board. Each pattern has it's own default depth settings and most of the time they are not what you want for your project.
To view what the pattern setting are, once place on the board you can see the settings by selecting them and viewing in the tool bar.
You should spend some time viewing the software tutorials http://www.carvewright.com/support-p...are-tutorials/