Torque Efficiency speaks to the ratio of positive and negative power – in other words, how much your pulling up versus pushing down. Pedal Smoothness is how even your pedaling is over the course of the stroke.
The problem being that these terms and metrics give the impression that they are a “universal good” when they aren’t by a long shot. I envision lots of salesmen pretending otherwise, and novices wasting time trying to maximize these values.