I've read what Adobe and David B have to say about the difference. Slug appears to cover the area where page info, etc go. In some online examples, it appears to be the bottom part outside the trim/page. It appears to be the same as bleed area covered. Clearly, it appears they overlap, but function differently at print time. You can prevent slug info from showing but keep bleeds. Perhaps vice versa as well.
If it's the bottom, then why does the New document dialog box allow you to make slug info on all four sides?
This is critical because we place ID documents into ID documents and it's imperative they line up. We have bleeds/slugs because there is info on the outside that must show up in the new composite document.
But for this to line up right, both documents must have the same extra bleed/slug settings and that the correct import option is set, or it's unclear how to make it line up. I'm sure there is a way, but it's not obvious to me.
Functionally, what's happening for these bleed/slug areas? thanx, sam