Cool, Warm, and Normal refer to the 'color temperature'. Ideally normal would produce a 6500K color temperature (the color of daylight). If you read a lot of reviews where TVs or monitors are measured, you'll find that very few get near the ideal of 6500K. Cool is more bluish and Warm is more reddish.
You wouldn't adust the red, green, and blue to produce white. Using 8 bits per color, pure white would mean r=255, b=255, g=255. Pure black would be r=0, b=0, g=0 and middle gray would be r=128, b=128, g=128. I don't think that is the intention here.
Adjusting those individual color values allows you to change the overall color temperature to your liking. So if you basically like the Warm setting but feel it is slightly too red, you'd bump down the red color control. Changing the red control will throw off the green, so you also have the ability to mess with the green. Those controls are really for someone with the right tools to do a proper calibration. Mess with them at your own peril.
