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QUESTION:
By trial and error I figured out that the ?Generate Zone Code? option is used to generate the code to display a banner, or in my case a rotating banner.

What does the ?Generate tracking Code? do?
Should I place this code on every webpage I place my ?Generate Zone Code? on?

ANSWER:
The Tracking Code allows you to collect more detailed information about how a user navigates throughout your website. It is responsible for the number of Page Requests and Unique Visits in the Reports section. Furthermore, it produces data in the Unique Visitors pages and if used on all your web pages, can actually map out how a specific user navigates through your website. You should place this code in exactly one place in all the pages that you would like to monitor.