The receiver's setting is feeding sound below 100Hz through the LFE to the sub. The 100 Hz is a crossover point and is controlled by the receiver. Using a higher (150 Hz) setting would result in more sound material being passed to the sub. Sound above 60/80 Hz (depending upon whom you ask) becomes directional, thus male voices and bass instrumments would sound as if the sound as coming from two distinct sources (which they would be). In other words, 100 Hz is most likely as high of setting as you should use.
The 80Hz setting on the sub would be normally used IF you did not use the receiver's built in crossover, instead, you feed a full spectrum sound signal to the sub and used the built in crossover to direct a portion of the sound to the sub, and the balance of the sound would be then directed to the main speakers, or wasted.
In theory, setting the sub at 80Hz could decrease the volume of sound between 80 and 100 Hz produced by the sub. This could be a good or bad thing, depending upon room acoustics and the amount of bass produced by the various speakers at those frequencies.
Hope this all helps.