If you turn on project watching, you'll be getting notifications about all the activities on a project. If you want to watch or unwatch a project, you have to be a project member first. Read here how to join a project.
This could be useful if you want to track certain projects and be notified in real-time of what's going on.
Switch between watching and not watching a project by clicking on the eye icon.
Editing a project
Open up the sidebar and select the Edit project option.
Change the name of the project, the person responsible for the project, or the company. You can also make a project private or public.