OK, what the F1 driving wheel buttons do, the buttons are
14:1) Adjust the gear box shaft to the input, mid and exit of the curves of the race track.
FIA allow the electronic gear shaft in the gear box to the pilot adjust the torque in Newtons(KG/M/F) to the entry, mid and exit of the race track curves.
2) Tires set adjust. Change the fuel injection map, let the engine more agressive or soft, help to controlling the tires wear. A map of smoother acceleration, prevents the car skate in the rain.
3) Sensors mechanical, hydraulic and aerodynamic. The red and green knobs up & down, and are used together with the two green buttons on top of steering wheel(+10 & +1) to the pilot enter numbers combinations as ordered by the team engineer by radio talk.
Example: Pilot should enter number 77, he will press 7 times the 10 button + 7 times the 1 button + Enter button + driving the car at hi speed.
4) Put the gear box in Neutral.
5) Speed limiter to 100Km/h, to the car enters in the pits stop lane.
6) Electronic Clutch; To use it the pilot have to put the gear box in Neutral, press the clutch with left hand and the Electronic Clutch system will find the exact point to the car start the race.
7) Start a motor to the pilot drink some beer inside the helmet.
8 ) TX radio, press to talk. The pilot will press it to call the Team engineer on the radio (Open Channel D!!)
9) Race Track Map. Used to save gas in Safety Car mode or after the race ended etc...
10) Flap, adjust the rear mobile wing.
11) TX/RX radio, used to reply to the Team radio guy.
12) Two controls to shifting the gears, Left down, Right UP
OBS.> Infos provided by the test pilot from Team Lotus, the brazilian Luiz Razia.