I just installed the Lenovo Settings Dependency Package on my Thinkpad x220 Tablet with Windows 8 RTM. But I can't find anyway to "open" it or notice anything different after installing it. What is its function and how does it work?
The "Lenovo Dependency Package" is a set of prerequisite services/drivers that are needed to use the Metro app called "Lenovo Settings". Inside Lenovo Settings you'll be able to adjust power, location, camera, audio, etc settings that are specific to your thinkpad. This metro app replaces Power Manager, Communications Utility, and Access Connections that you might be used to for Windows7.
By itself, the dependency package doesn't do anything - it just provides the back-end guts for the the metro app. The metro app (like any other metro app) can only be installed from the MS store.
There is sometimes confusion between two different packages with similar sounding names:
"Lenovo Settings Dependency Package" is for the "Lenovo Settings" metro app.
"Lenovo Dependency Package" is for all the other Lenovo metro apps, e.g. Support, QuickSnip, Companion.