Just out of a hunch. I'm betting that those two were set up in order for you to have 2 environments. Right click on your icons for the two of them and if they have different Targets. If so, they are probably also pointing to 2 different sets of options, or CATSettings. CATSettings are different...
If Chrysler or Ford (or any of your customers) use their own set of drafting standards, yeah, most likely you'll have their set of standards in your V5 standards folder so that you can create new drawings in their standard. I don't know if that answers your question. Give me some more details if...
If you'd like to know the reasoning behind everything, I think I can explain.
It's all because of CATIA V4. With V4 standards were not saved as a part of the .model file. For the .model file to know what text size, font, etc to display, it had to reference the .prj files. With V5 now, drawing...