When you click on the "Developer mode" option when on the Extensions tab you see three options. I know what the "Update extensions now" does, but what do the "Load unpacked extensions" and "Pack extensions" buttons do? I could not locate any info on them.

they are used to look at the code and create extensions respectively

Originally Posted by sulasno

they are used to look at the code and create extensions respectively

No, the load unpacked extension is used to run unpacked extensions (i.e. a folder with the source of the extension), useful for developers who want to test their extension without creating a package (i.e. a .crx file). The load extension button is for loading a .crx file already on your computer, just like what you do when you click a link to an extension online.