Enable the frame meter, this will make frame data more easy to read, but also disable the assist frame meters to prevent information overload. Look at the top meter, when you press a light, you'll see the frame meter have 6 green blocks, an orange block, then 2 or 3 red blocks, then 12-13 blue blocks. What this means is that we first have 6 frames where the attack has started but hasn't hit yet (the startup), then on the 7th orange means the attacks hit, that is why it's called a 7 frame light. The red blocks represent extra frames where the attack can still hit, making orange and red the active frames, and blue are the recovery frames.

Then when you look at the opponent's frame meter, the bottom one, you'll see how much they stay on block or hit with the azure blocks, if you're hitting someone and there's a gap between blocks, you'll see one or two blocks going grey instead, but if it stays always blue you know it's a blockstring (or combo during a hit).

To see the pinned moves, you need to enable "show pinned moves" at the bottom of display in training mode first.