The Strips List is a quick way to manage big sessions, with lots of tracks, where the mixer would otherwise be too crowded.
It is a list of all the tracks, busses and VCA in the session, with a tick to allow for hiding or showing them. This visibility status also affects the Editor view, and is exactly the same as toggling the V checkbox in the Tracks and Busses panel of the Editor List.
Dragging and dropping tracks inside the Strips List allows to reorganise the tracks in the session, both in the Mixer and the Editor. Clicking a track scrolls the Mixer to show this track.
It is possible, by right clicking, to act on multiple tracks at once:
The + button under the list is a shortcut to create a new track, bus or VCA, as in clicking Track > Add Track, Bus or VCA....