It describe light colour. Warm White is a softer more yellow light that is closer to the light given off by a traditonal halogen spotlight .Therefore warm white is better suited for living rooms.
Cool white is a much brighter white that is closer to light given off by CFL bulb. It's best suited for commercial area. Daylight white colour is like light given off by a fluorescent tube.
Warranty warrants fixtures and components for promised period from the date of purchase, on condition that it's properly installed and under normal conditions of use, to be free from defects in materials and workmanship.
Promised warranty on product page is available. You can repair or replace the product at your discretion in the event a product is not repairable or no longer available