Menu Display Object = What comes up when you view the Spell in your Magic Menu; it can be set for both the Spell itself, and the Magic Effect. I *Assume* the spell's MDI will take precedence over the Magic Effects, but I personally always use the same for both, so...
Spell = The actual spell you cast
Word = A word, basically It's the thing which you spend Dragon Souls on. Each Shout has a maximum of three Words, and each Word corresponds to one part of the effect.
Basically, a shout is composed of six parts: three words, and three spells. Each word corresponds to a given Spell, and basically tell the game "if the PC has this Word, and holds the Shout Key for the appropriate time, cast this Spell". So, if you don't have the required Word unlocked, the Shout won't cast that spell, no matter what.
To make a 1-word shout, you would just need to create a new Shout (under the Spells menu), and give it only 1 word, and 1 Spell. You'd be best looking on the CK wiki for more details : CreationKit.com
I'm pretty bad at explaining this stuff
The sound should be set via the Magic Effect, I think--there's a list of like 4(?) to the far-right of the Magic Effect form, which control the Cast, Charge and Sheath sounds.