Starting a new game, choosing customize civilization along the bottom... Starting from top left, has the name of the faction, with three dots. These three dots, pull up a tool tip of Edit, but it doesn't actually do anything.
Moving down on the upper left, the next option is to customize your factions logo, you are able to, but it doesn't change right away on the screen. It won't change until you change something else on the screen such as citizens, foreground, or background.
Description of your faction (right below the faction name in the upper left), this needs to allow you to customize, and edit. (This needs a copy/paste feature where you can just quickly delete what's there and paste in your story.)
Changing citizens (Please note right now there doesn't appear to be an easy way to customize your citizens, maybe that's not all the way in yet, but there needs to be a way to add your custom citizens to match your custom faction easily.)
Moving over to the History option near the upper right. There needs to be a copy/paste option here so you may quickly add in your factions history. (I haven't found anywhere once you enter the game that this shows up.)
Ship Syle, once you click on the three dots, in the bottom right, the check box to lock in your ship style never hides again. It just stays up as if it's not locked in, however, it will be.
There needs to be an option to remove Space Monsters or the other pirate like people from the game. I understand there may not be any pirates, but pirates play a fairly small role when there are monsters everywhere and the other pirate like faction picking off all of your colony ships/survey ships.
Once you start the game, note the history of your faction that you customized is not there anywhere. Please note I don't even see anywhere in the current customize screen that strengths and weaknesses are even a part of it to edit. Also note the ship colors in the description of the survey ship in the bottom left. This is a carryover bug from Galactic Civilizations III when you change your faction colors the default ships in their little description are always the wrong colors there, but correct on the main map. It seems the color settings don't carry over correctly.
Should you ctrl+n it doesn't remember your faction settings that you customized completely bringing it back to the default faction traits
I think that's everything I have at the moment.