Acquia Cohesion renames to Site Studio from version 6.2. Tell me more.
Base styles are CSS styles for HTML elements.
Color tags allow you to create groupings of colors based off of the color tags that you define in the website settings color palette.
You can use Elements to create content but we don't recommend doing so for multiple reasons.
The Youtube video embed is responsive so it should expand to the width of its parent. If you do need to set a width you can apply the Width CSS property through the Style Builder.