When I click twice, quickly, on an existing component it becomes boxed in dotted lines and all other objects in the model grey out. What is the program trying to tell me with this? What am I then able to do with the component that I can’t do by selecting it with the select tool?
You have opened the component for edit.
It’s telling you that the component is open for editing. You can now make edits to the geometry in the component.
You might benefit from the tutorials from SketchUp that are located at THIS WEBSITE. SketchUp Fundamentals is a good starting point.
Thanks everyone, I’ll check out the web site