Labels are what you see here; the id under each label is what goes in embed codes, and it stays the same if you rename the label. Keywords are used to suggest tags for new stories when they arrive from SAWSO (comma-separated, matched as whole words in the title and description).
Pick what this page should show. A story must match at least one ticked project sector and at least one ticked region (leave a group empty to allow any). Paste the code into the page. Tag changes you make here show up on the page within a few minutes, with no need to edit the page again.