The WOLips EOGenerator is an integral part of WOLips and shares its codebase with Entity Modeler. It uses release 1.5 of the Velocity Templating Engine and template files that use the Velocity Template Language. This templating language is similar to the original Rubicode EOGenerator that many developers used with WebObjects 5.3 and earlier so migrating old templates to the new language is time consuming, but not difficult.
If you don't specify a custom template name in your .eogen file, then the WOLips EOGenerator will simply use the built-in ones. This is the way all developers should start out. You can always grab those templates and modify them, or use some of the many modifications shared by other WebObjects developers on the EOGenerator Templates and Additions page.
There are two ways: create eclipse-wide settings, or create settings per project.