Editor allows to quickly update all items in a single checklist.
If multiple checklists are enabled, an issue can have more than one checklist.
Checklist Text stores entire content of an issue, so its format has one difference compared to the editor: it contains the names of the checklists. There is always one default checklist and its name is included even if multiple checklists are disabled.
The screenshots below show exemplary content of the Checklist Text field:
Beside of the checklist names there is no difference between the Checklist Text field format and the general formatting rules described below.