The welder fitted to my Startrite bandsaw is made by Ideal. A simpler unit than yours but pretty sure it works in the same manner.
When welding bandsaw blades on this sort of machine the blade has to be fitted into the jaws with the ends butted together and a suitable space between the jaws. During welding the jaws are pushed together by spring force ensuring that a solid weld is made. The jaws move closer together during this process. Both the projection of the blade during initial set-up and the spring force applied during welding vary depending on the size of the blade.
On mine the left side lever is labeled Upset Way and the right hand one Upset Pressure. Like yours the right side jaw is fixed and the left side one moving.
My Upset Way lever has detents defining the clockwise and anti clockwise movement end stops. The anti-clockwise detent is un-labeled, the clockwise one operates the weld power switch and is so labeled. The lever swings freely between the detents, shifting the left side jaw back and forth as it moves, with calibration markings for different blade sizes. This lever enables the correct initial projection of the blade to be set ready for welding.
My Upset Pressure lever has several blade sizes marked with detents for each size. It pushes the jaws together with increasing force as the blade size increases. I would expect yours to have detents for each size of blade too unless the faceplate is common to several machines and some variants are unable to do some sizes. Might be easier to omit detents than do a whole new faceplate.
Basic operation is simple enough. Cut the blade square. Mount in the jaws with appropriate projection as set by the Upset Way lever. Set Upset Pressure for the appropriate blade size. Set Weld Current switch, top left on mine, to the blade size. Turn Upset Way lever to the weld position for the specified time to make the weld. When the blade has cooled release the jaws and take the Upset Way lever back to the un-labeled anti-clockwise end detent. Adjust the balde position in teh jaws so the weld is central then do an anneal cycle with several short heats to cherry red followed by a short cool down. Anneal switch is top right on mine.
Finish by grinding off the weld flash so the blade is a constant thickness.
Clive.