Read the AWS Manage Options page, everything is explained there in details.
The maturity is the period during which the warning points from a particular warning, will remain in a member's account. In your case, if the maturity of a warning is 180 days, then the points associated with that warning, will remain in the user's account for 6 months.
Then there is the Warning Points Limit. If a member ever accumulates enough points to reach it, he is banned for whatever your ban duration is.
Then there is the Warnings Number Limit. If a member collects as many warnings (warnings, not warning points) as the Warnings Number Limit is, then he gets banned again, for whatever your ban duration is.
If you choose a low maturity, it's like "not punishing" your users, for their infractions. They get x points today, and tomorrow they are gone. If they get warned 4 times in a day, yeah, they will be banned, but if you have such members, you better start issueing "permanent ban warnings", where the member is permanently banned.
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