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code/Cursor
The pointer's position over the viewport, as a uv from 0 to 1 with its origin at the bottom-left.
Geometry
A reading of one pointer, taken once per frame before anything else in the frame runs, so everything in that frame agrees on where the cursor is. The value is a flat viewport coordinate, not a position in the scene: to put something under the cursor in 3D you want code/CursorRay and code/RayPlaneIntersect instead.
Previous is the same reading from the frame before. A pointer moving quickly covers real ground between two frames, so acting only on where it is now leaves gaps; having both ends lets you act on the stretch it crossed.
Works inside a geo/Actor and inside the shader builders (material, texture and compute networks), which are the networks whose runtime binds a pointer.
This page is generated from the engine, so it describes the release you can download. The same text is in the editor's Help panel next to the node itself.