What does this Demon window part do?

What does this part do and is this the right way to attach? Picture attached.

Which post looking part goes in the holes in the window? One in the front part of the window one in the back part. One is a large diameter and one is a smaller diameter.

Where can I buy the felt that goes in the window slide channels.

Thanks for the help.

I checked the 72 parts manual. The illustrations in mine are drawings (not photos) and lack sufficient resolution to really distinguish one part from another.

I've gotten the channel material from J.C. Whitney. There are several choices available, so choose wisely and measure carefully.

Does anyone have a picture of a window that has the hardware installed?
Thanks