Every link discovered by OptiLink is listed here. The first column is the page where the link was found, the second column is the title of the page where the link was found, and the third colmn is the text of the link that led to the target page.
The Link Text (column 3) is a measure of the Reputation of the target page--what other pages say the target page is about. As far as is possible you want to control what people say your page is about so that it agrees as close as possible to the Topic of your page. Where the Link Text is blank, this could be an empty text link, like <a href="..."></a>, but it is more likely that this is a graphical link.
If the Link Text is "what is said," then the Linking Page Title is "who said it." This is probably not used by the search engines with the exception of Teoma, but it is very important in making optimization decisions. Think of the Linking Page Title as naming a market for your Links, or a Community of pages that your target page belongs to. What sorts of pages are linking to you and why? Does this suggest a different focus or audiance for your page than what you intended?