I actually have an original manual for the 60-CT1 and 60-CT2, and the instructions there are much better than in the internet version. Here goes (with some paraphrasing by me):
WINDER OR MOTOR DRIVE OPERATION
For reduced output and high speed cycling operation, set the slider on the (back) "programming centre" to "W". Adjust the film speed setting knob on the (top) aperture calculator so that the film speed used lines up with the index line on the DIN/ISO film speed scale. Then:
For winder operation, set the index line on the W/MD switch to the "W" position - the metric guide number for DIN 21/ISO 100 is decreased from 60 (full manual) to 10 and the maximum number of flashes is increased to 2.5 per second.
For motor drive operation, set the index line on the W/MD switch to the "MD" position - the metric guide number for DIN 21/ISO 100 is further decreased from 60 (full manual) to 7 and the maximum number of flashes is increased to 5 per second.
It certainly doesn't help that in the internet version of the manual it isn't really possible to see that the back "programming centre" has a "W" mark below the "M" and all the "C"s.
As I understand it, the dials on the top of the flash head have no function unless and until you slide the back slider down to the "W". When that happens, the settings on the back (and the sensor) cease to have any effect, and the dials on the top set the light output, and tell you which aperture to use on your camera.
Hope this helps.
PS Although the 60-CT1 remains in Metz's lineup, the flash and the instructions has changed very slightly over the years. I don't think that the changes are particularly important, but they do make internet discussions difficult.