Ok, first of all there are two kinds of lights in the engine: Static and Dynamic lights.
But what makes them different? Well a static light is computed during level compiling and therefore (normally) is faster. A Dynamic Light is updating the surrounding lightmaps in real time. It is important to know that the Genesis engine BYPASSES Direct3d/Opengl lighting and does the calculation in software instead (->frame rate eater). Therefore it can use up to 40 dynamic lights (for the lightmaps!), instead of the normal 8 lights in a scene at a given time that standard hardware fixed function (hardware T&L) lighting gives you.
Static lights:
Sunlight entity
Sun entity
Light entity
SpotLight entity
Dynanic lights:
DynamicLight entity
DSpotLight entity
Flame entity
All lights used in effects and explosions defined in effect.ini and explosion.ini
I know for sure that the Light and DynamicLight entities can cast stencil shadows and the Sunlight entity cannot. To produce an effect similar to a sunlight make a Dynamic Light that follows the player around using a 'sun-pawn'. If you want you can even move it around and change the daytime this way. But of course you then have the problem that the other pawns get influenced by this light too and would need their own 'dynamic sun-light'. Doing this for all pawns, you can easily reach the 40-dynamic-lights limit, so this is not advised.
About the FogLight and the MorphingField i am not sure, as they are not volumetric (don't have their own polygons) and seem to change the color of the brushes they touch if you look through them (this is very similar to what a light does, a light does change the color of the lightmaps->the brushes too)
Hope this explains a bit.