As mentioned, the waveform display is basically a specialized oscilloscope that shows the actual video waveform so parameters can be adjusted to specification using the calibrated graticule. This would typically be used to monitor and enable proper adjustment of a broadcast camera.
The photo I have attached shows the display of both even and odd color bars at the line rate, or two scan lines of full field bars. It begins with the negative sync pulse on the left then color burst and then 100% peak white followed by the color bars: yellow, cyan, green, magenta, red, blue and black. The Bars also incrementally decrease in luminance level from 100% white to black at 7.5. Black at this level is also known as pedestal or set-up. Next is the negative horizontal sync pulse and it starts over on the next scan line.
More detailed info is here on the Tektronix site:
http://www1.tek.com/Measurement/App_...fmmonitor.html
I think I have a couple extra UHF connector to BNC adapters for the video connectors on the back. Let me know if you want them and I'll put them in the mail. I can also send a 75 ohm terminator if you need it as that is a loop through connector and will need to be terminated to show proper levels.