The console is basically screen print in DFD, and in version 1 it even looks like DOS ;-) The console will have many purposes. 

1. You can use it as a DEBUG window and use ConsoleCopy() to put messages on the console during a procedure run instead of Window/Dialog messages.
2. You can use it as a report output the way you used to in DFD. You will have to build your own output, but that is what most of us did in DFD anyway (OUTPUT)
3. You can use it to generate a print or export. You can of course already do that via the new file functions, but this way you will be able to visualise it too. The nice thing with the console is that it is unique for each application, but there is only one, so you can add stuff to it from anywhere in your application and when happy, you can simply save it to a file with ConsoleWriteTofile() or print it to a Windows device (printer) with the same function.

Plenty of other uses too, this is just the start.

Memo

Reference a memo field in a table that is to be appended or inserterted into the console window.

Mode

This is the mode switch where you tell the function how you want the text added to the Console.
0 = Append
1 = Overwrite
2 = Clear
3 = Insert at beginning of Console (top)
4 = Append with CR (before)
5 = Insert with CR (After)