There is no “advanced settings” feature in iMovie 10. The features are accessed through the menu bar, the tool bar at the upper right of the screen, drop down menus, and the settings button above the timeline to the right. The icons in the top tool bar will only be highlighted if the applicable clip is selected and the function represented by the icon is applicable. Thus, the speed icon will not be highlighted for a selected photo clip because photos do not have frames per second to speed up or slow down. The loudspeaker sound icon won’t be activated if there is no sound in the movie.
— Rich