Ooh! I love color questions. First the SMPTE question. This article is a bit long, but it explains everything pretty well:
https://en.wikipedia.org/wiki/SMPTE_color_bars
As for the Computer to Studio RGB, that is mainly a difference in the way that broadcast studios render color vs. the way your computer handles it. Computers usually use the full ‘0 to 255’ scale for color, like you would commonly see while using Photoshop, but broadcast does not. Using that scale can often cause undesirables downstream, such as an audible buzzing noise (often from the whites being too intense a wavelength. Broadcast applications tend to use the 16-235 scale, as it avoids those problems.
I don’t know if you produce broadcast media, but website video and DVDs usually handle the full 0-255 range just fine, so I don’t use the computer to broadcast option much. I usually leave it on the computer setting.
Hope that helps.