You would have to ask Nasa about it. Looks pretty much same as what you see in commercial planes. You can see it has several sensors feeding data that the guy is monitoring.
The launch sequence is pretty much automated process. Ignition is done from shuttle, or maybe remotely. The monitors are for looking at all possible things that could have smallest issue. If you look at what the numbers/values on that monitor are, there are like surface, fuel cells, voltages and amps. You can also see that the header has some info, probably metadata of craft or other relevant parameters. You can also see that there's Load, Save Pset and such. Meaning that same software is used to simulate and tune settings, probably for adding values and changing ranges.