Under the main menu File -> Preferences. Select the "Screen" tab. Here you can select your screen related preferences.

Windowed Mode:
In Windowed mode Liquid Media behaves just like any other application in windows, it can be minimised, restored, resized and you can easily switch between your other open applications.

Fullscreen Mode:
Fullscreen mode is useful when you want to get the maximum useable space because you don’t have distractions, the start bar and window edges taking up valuable desktop space. Unlike windowed mode which is restricted to the standard windows resolution, fullscreen mode allows you to select any screen resolution and colour depth.

Safe Mode:
Enable this if you are having problems with your display setup

Double Buffering:
Double Buffer Screen Updates

For further explanations relating to the liquid Media preferences Click here.