Hello Bryan3D,
If you have created masks in the external application (like Photoshop) and saved them as b&w images: use From File + Replacement, if you saved them in the image alpha-channel, then use From Alpha + Replacement.
If you have shot background images for every camera position use, then you need to select From Background + Replacement.
Note that options Replacement/Difference/Union/Intersection means how the existing mask for the image and mask being imported should be treated for a new mask creation.