ECT power is a special feature which allows a an automatic transmission (AT) to not shift its regular times. The Power setting means it holds the shift from happening. When you accelerate and don't shift, your engine builds up more torque, which means more power. then the Power setting holds the shift a little, so it build up little more power, so that when it does shift, you're going a little bit faster than normal shifting would get you.
The Economy setting is just the opposite, will allow tranny to shift normally or even a bit quicker, thereby getting you into higher gear sooner, and hopefully saving you a few drops of gas easier. you lose engine power, which means you save gas, and getting into higher gear also means saving gas, so all these gas-saving modes hopefully will add up.
Overdrive generally means that the overdrive gear allows engine to run at a smoother easier rpm to help reduce stress and wear on engine. It's mostly meant for highway speeds.
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