I was wondering about what the behaviour of these different designation types as well. Posting my findings in case anyone else might find it useful.
I managed to find some documentation that looks relevant on the below linked microsoft docs article. The article seems to describe the same options available under "designation types" in the plugin registration tool for Service Endpoints, as being "Contracts" between Dataverse and Azure Solutions.
Establish a contract between Dataverse and an Azure solution
For each solution endpoint, you configure a contract that defines the
handling of these remote execution context “messages” on the Service
Bus and the security that should be used on that endpoint. Service Bus
messages are received at an endpoint using one of the supported
contracts listed here.
Queue
A queue contract provides a message queue in the cloud. With a queue
contract, a listener doesn’t have to be actively listening for messages
on the endpoint. For queues, there is a destructive read and a
non-destructive read. A destructive read reads an available message from
the queue and the message is removed. A non-destructive read doesn’t
remove a message from the queue.
The type of queue supported by Dataverse is called a persistent
queue. Persistent queues have a long but finite message availability
duration that can be specified in code.
One-way
A one-way contract requires an active listener. If there is no active
listener on an endpoint, the post to the Service Bus fails. Dataverse
will retry the post in exponentially larger and larger time spans until
the asynchronous system job that is posting the request is eventually
aborted and its status is set to “Failed.”
Two-way
A two-way contract is similar to a one-way contract except that a
string value can be returned from the listener to the Dataverse plug-in
or custom workflow activity that initiated the post.
REST
A REST contract is similar to a two-way contract on a REST endpoint.
Topic
Similar to a queue except that one or more listeners can subscribe to receive messages from the topic.
Event Hub
This contract type applies to Azure Event Hub solutions.
( Important - To use these contracts, you must write your listener applications using the Azure SDK v1.7 or later. )
Identifying the kind of security a contract uses is part of the
contract’s configuration. A contract can use Transport security, which
uses Transport Layer Security (TLS) or Secure Sockets Layer (SSL)
(https).
Claims authentication is used for secure access to the Service Bus.
The claim used to authenticate to the Service Bus is generated in
Dataverse and signed by the AppFabricIssuer certificate specified in the
Dataverse configuration database.