In addition to the what others have said, with Chord Settings, they only last until the chord changes. This means that if you have (say) six chord changes through which you want to rest an instrument, you will need to add that rest to those six chords using chord settings. On the other hand, 'mute' in Bar Settings works independently of chord changes.

I also encourage you to have a look at using the volume envelope in Audio Edit. This gives a more professional sound when regions of tracks are silenced as it is possible to fade out or fade in using volume envelopes. If you are interested in finding out about volume envelopes and using volume notes, I encourage you to have a look at the video below. The relevant section begins at 51:18.


Regards,
--Noel

MY SONGS...
Audiophile BIAB 2024