The Generic material settings are organized in Basic and Advanced modes. You can switch the mode from the toggle button under the Preview Swatch.
Add Layer and Add Attribute buttons are provided for some V-Ray materials, including Generic. You can select an additional layer or attribute that can add up to the appearance of the material. For more information, see the Attributes And Layerssection.
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Holding down Ctrl while having the Add Attribute or Add Layer menu open, allows selecting multiple entries without closing the dropdown.
The context menu of the Color slot provides options to Copy and Paste, as well as to Reset the color.
A Reset option is provided in the context menu of each Number Slider. You can reset the slider value to the default one.