The View Options dialog box applies to the active document only. It contains almost all the View menu commands in one place, along with some other settings. Use it to select several display options at once, or to change the display of all the pages in the document instead of just the current one.
Changing the display of the active document
The View Preferences dialog box defines options for future documents, and has no effect on the active document. For example, if you are always inverting your images after you open them, you can select Invert in View Preferences to make all images open as inverted.