2-way adjustable? 3-way? Both F & R?
Disclaimer, I don't race cars and know nothing about shock tuning. Just trying to progress the conversation. Perhaps the racers will chime in...
The image is of two coilovers with 1-way adjustable rebound from Koni shocks. The term that you are referring to is associated with the shock, not the rest of the coilover. Three way adjustable shocks typically have low and high speed compression as well as rebound control. I wouldn't even want to think about setting that stuff up myself. Quite overkill for a street car IMO. I think coilovers are for the most part also since you will set the ride height once and be done with it. They do have the advantage of smaller springs, which gives you a bit more room in the wheel well.
In general, coilovers themselves have adjustability that isn't included in the "three way adjustable" lingo. The spring height adjustment which is par for the course for any threaded coilover. The toe/camber stuff is just from the adjustable campber plates, which you can put on factory struts also. Other adjustments on coilovers can come from a setup that actually lets you adjust the shock/spring height, which can adjust ride height without changing the compression rate of the spring (these don't have that). There are no coilovers in the rear of this setup. I see rebound adjustable shocks with adjustable coil spacers, which do not go over the shock. The e9 already has weak rear upper shock mounts, so it's probably not a good idea to stick a coilover in the rear without reinforcement. You probably have to mount it upside down also since the spring may not fit in there.
Looks like a great setup to me!