Hi
Basically (to simplify), every file in OSX has 'permissions' associated with it, which relate to Read+Write, Read only, No Access (and a bunch of other stuff). These permissions apply for individual 'User' (account), groups of Users and the like.
To quickly check the File (and Folder) permissions in the Finder, select the file and use the 'Get Info' (Command I) function. At the bottom of the "Info" window, you will find the "Sharing and Permissions" section.
You are checking that your User Account (<login name> (Me)) has both Read & Write permissions to the Project Folder, The Fade Folder inside that, and finally, the Fade files themselves.
CCT