Implied points split the Vegas total using the spread: a 48-point total with the home team favored by 4 gives the home team 26 and the visitors 22. It's the market's best guess at each team's score.
Pass / run chips are how the game setup (implied points, likely game script, weather, dome) nudges each team's passing and rushing in our projections.
Softest spots compare the yards each defense has allowed to a position (passing yards to QBs, rushing plus receiving yards to backs, receiving yards to receivers and tight ends) with what those same offenses usually gain there, so a defense isn't called soft just because it faced good teams. Small samples are pulled toward average and capped at ±40%, the same limits our bet projections use, then combined with the game setup.