I picked up on the fact that it 'optimises' stuff from its name, but I wanted to know what exactly that means it does to the geometry aside from shattering it.

Looked it up myself, and ugh - it's an auto poly-reduction tool. Understandable for Lods, but why were you using it on lod 0? Or weren't you?
Sorry about the mouse, know what you mean when i used blender 
Ironically, that seems to be nearly the only control you can actually somewhat configure in Blender at this stage.

(In that same drag down hidden menu>view & controls, you set whether clicking the middle mouse rotates the view or pans it. It basically swaps the controls for panning and rotating around. Not exactly great, but I think it might have been put in to make max users a tiny bit more at home.)
I think I read somewhere that configuring the rest of the controls is slated for a future version.