Agreed. This question has been on my mind too.. and glad you posted. I've been experimenting with the settings, and you should to. I can tell you this, when you change them only YOU will hear the changes. Not the other people in the session. There's no documentation to be found to explain this, the booster, and console in detail. Having said this, i noticed the Mix and Music sliders can be useful when I'm in a session and noticed EVERYONE else is louder them me, and I can bring them all down separate without impacting my sound, or, increase my level. But, it's a very minor variance and not like a volume control. More like a Gain, as the slider label implies, "gain multiplier". I would suggest spending some time in a session with a friend and figuring out by trial and error.
I have also been trying to understand the so called Power Mixer. The console. When you click on the checked comp boxes, i notice JK has defaulted compression. you can begin to appreciate how necessary this is. The makeup gain is also another great slider to try out. It can give you that boost you need.
Played with those channel booster sliders today in a solo session but other than introducing a little bit of noise at the upper end I didn't noticed them doing much of anything ....certainly nothing beneficial so I just dropped them all to 1 for now
Using Line 6 Helix or Roland Session Mixer as audio interface