The Layout Library is one of the components of the offset Estimating Module used by the WorkSheet and ShortForm.
The Layout Library stores dimensions and specifications of common layouts used by the Standard Drawing and Booklets/Lots dialogs. These layouts contain information about the length, width, grippers, borders, number of pages, signatures, etc. It also allows you to attach a graphic from the Graphic Library.
The Layout Library is different from an Estimate Template because it only stores information specifically regarding the setup and dimension of a sheet or sheets and no information about quantity, ink color, pre-press, bindery, etc.
The Estimate Template is a more complete template of an estimate including every piece of information about that estimate. The Layout can only include the necessary information to correctly layout and draw the estimate setup.