The process is dependent on the poly-count and the representation is quite detailed. Using this option with heavy meshes and scenes might take longer before the mesh is displayed in the viewport and might slow down SketchUp significantly. High - Displays the original mesh in the viewport.
Representations - Offers different viewport preview representations of the Chaos Cosmos assets. When disabled, the asset in the referenced scene is not affected by the Material Override option in the Render Settings. Use Mtl Override - When enabled, the global Material Override option in the Render Settings overrides the asset. Hover over the icon for more detailed information. The status icon ( ) indicates whether the paths to the textures and other external reference files used by the asset are valid.
The replaced asset is not deleted and is stored in the Asset Editor. It replaces all scene instances of the asset. The Use as replacement/Replace in scene option is possible only for other Cosmos Assets.