The storage charge is a when your charger cycles thru a discharge or recharge and evens each cell for safely storing your battery. This is for when you won't be using the batteries for a little while. Lithium batteries do not like to be stored at full charge. (I BELIEVE that they are also a lot less stable when fully charged where as in storage charge, they are less likely to have any problems... But that is my thoughts, not written in stone as far as I know) whatever you do, ALWAYS use the battery bags and NEVER walk away from a charging battery!!! This is no joke! There is a guy on an rc10 forum who lost his house and a LOT of nice kits etc because he left his charger and went upstairs. He actually heard it blow up but by the time he got back down, it was too late. The area was fully involved with fire. I have heard ppl who will keep a metal 'fire bucket' on hand (for oil soaked rags etc) with sand in it in case of emergency as well as fire extinguisher. I am not sure an extinguisher can put out a lithium fire tho... Just keep the surroundings from lighting with it.
Sorry for,writing a book here. Just feel like there's a lot you need to know and I would feel like an ass if I heard something bad happened because I didn't say it!