It's a two axis chart, which depicts the effectiveness of a factor vs. the throttle position.
To use it, read along the bottom to find the throttle position of interest, then follow the line up wards to find the shaded shape area that crosses it. The width of the shaded area along the vertical line indicates how much changing of that factor is in effecting mixture at that throttle position.
For example at WOT you can see that the Main jet dominates the mixture, but as the jet needle never fully withdraws from the needle orifice, the width of the needle at that point along its taper, also has a lesser effect on the mixture ratio. In other words, you will get a more noticeable change in mixture by changing the main jet size at WOT than by changing the slide needle taper. However, if you change the needle taper or clip position to improve the mixture at 1/2 throttle, you may have to revist main jet selection, as the needle has a lesser effect on WOT mixture settings, too.
Briefly, the throttle valve cutaway refers to the shape of the bottom of the slides. You'll note the intlet side is angled higher than the flat bottomed side facing the intake valve. That's the cutaway. And the magnitude, or angle of that cutaway effects the mixture from idle to almost 1/2 throttle, with it largest effect at about 1/10 to 1/5th throttle position on the chart.
You may begin to see how a Dyno can be such an invaluable tool. As with it's instrumentation you can chart it's mixture vs throttle position and know what's best to adjust with minimal impact on what is already properly adjusted.
You can also get this information on the test track over several runs and readings of spark plug deposits. But, it takes longer.
Cheers,