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At the top you select any of the presets (previous export templates). You can then select if you want to export the entire vault or only the songs you have selected. You can set the colors by clicking in the square with the corresponding color.
If you check the option "Create a new file for each group", MusicVault will create an index page and several sub-pages for each group.
If you check the option "Link to the files", the first column in the export will be a link to the file on the harddrive.
There is an example of an HTML-export here.