In simple terms, the main difference is that under the Regular License, your end product (incorporating the item you've licensed) is distributed for free, whereas under the Extended License your end product may be sold. Of course, if it was all that simple, we'd have a one sentence license, so please do read the licenses and the rest of these FAQs for more details!
No, our Regular License is for a free end product (whether or not the item is used in the end product in an editorial way). And our Extended License is for an end product that's sold (whether or not the item is used in the end product in an editorial way). If you want to use an item in an editorial way in your end product, choose the Regular License if your end product is distributed for free, and choose the Extended License if your end product is sold to the end customer.
The item is what you purchase from Envato Market. The end product is what you build with that item.
Yes. You can customize our items to fit the needs of your end product.
Example: You could change the colors, text, and layout of a flyer template or convert an HTML template into a WordPress theme for a single client.
Non-exclusive means that you are not the only person with access to the item. Others will also be licensing and using the same item.