When you open up the wrench events dialogue, you'll notice there's a drop down menu waiting for you. The one in the first column is the input box. This is what defines when the following events will be triggered. For example,
onActivate - Triggers the events when a player clicks the brick
onPlayerTouch - Triggers the events when a player touches the brick
Most are self-explanitory, but you might have to do some trial and error to figure a few out. So, once you pick an input, a new box will pop up: your target box. This is what will be affected by the events. For example,
Self - The brick that the trigger was called for (i.e. the clicked brick)
Player - The player who triggered the event (i.e. who touched it)
Again, the names are usually a dead give away, but if you're not sure you can just try them and see what happens. Finally, after you've picked a target, you'll get your output box. This is where you select what will happen to your target. For example,
setColor - An output for brick targets that changes the color of the brick
IncScore - An output for client targets that increases their score
Once you have all of those, you can choose the output parameters, or options, that have to do with your output. Basically, for setColor, the parameter you have to select would be the color it's getting set to. Some events don't have parameters, and others have a lot.
You are also able to change whether the event can be activated or not by unchecking or checking off a box to the left of the event row; this is called it's enabled state. Next to that is also a box that has a "0" in it by default. This is the delay the event will wait before triggering. For example, if you have a 10000 delay (it's in millseconds) for an onActivate event, 10 seconds after someone clicks the brick, the output will be triggered for the target.
Example of it all put together:
(Enabled) (5000 Delay) onPlayerTouch -> Player -> Kill
Kills a player who touches the brick 5 seconds after they do so.