yo,
I did a lot of test about that stuff a long time ago, had made a txt file with all test reports and info I found out but in the end I didnt found the time to put it into the wiki... my bad. Im pretty sure i deleted that file now.
Anyway, if memory serves me well, the type was some kind of bit field.
I think the only effect i discovered were some bit was about hidding the vertice (thus each triangle including it was hidden). It was used when the liquid plane need not to be a square.
There were other flags used in blizzards WMO which didnt seem to have any effect.
Better check that though, was a long time ago, good luck !