Because optical compressors are tube compressors, they also add some nice tube warmth and saturation to the audio. Optical compressors are known to be some of the slowest kind of compressors, but the nonlinear behaviors of the attack and release make people love optical compressors for their musical and smooth compression. However, Logic’s version does have all these controls, so I’m assuming it’s not supposed to be an accurate emulation, but more like it’s inspired by it.
There’s no control for attack, release or ratio. You can easily spot an optical compressor by its lack of controls-it’s main controls are usually just a gain knob and a peak reduction knob (and an output knob but that’s not as important).