NX How to change settings of the Auto Balloons of the Parts List placed in the modeling space?

How to change settings of the Auto Balloon of the Parts List placed in the modeling space?

Solution

Parts List & Auto balloon functionalities are drafting specific, so you should be in drafting application to access their settings dialog.
To access settings of a Parts list created in modeling space, shift to drafting application.
Disable the drawing sheet display, you can do this through Menu > View, toggle off "Display Sheet". 
Now you can able to see the required MB3 options for the Auto Balloons & Parts list.

Hardware/Software Configuration

Platform: INTEL
OS: window
OS Version: 764
Product: NX
Application: DRAFTING
Version: V11.0.2
Function: TABLES

Ref: 002-8008331