SightHound records ALL video. It keeps ALL of it for 48 hours (that is the default, but you can change it), then, after that period, it trims the video files down to just that which meets the rules you have set and keeps that data for as long as possible given the limit of disk space you have set.
When you are viewing all of the cameras and all of the rules then you will see all video clips where there is any motion at all, regardless of if it meets your specific rule(s). Those clips that do not meet a rule are marked as "Not saved by a rule".
If you wish to see only videos in the list that meet your rules, then select just the rule (in the list of rules) you wish to see and then the list will show only those clips.
There is a "problem" (as I personally see it) with the unfiltered list in that if a clip contains any detected motion that does not meet a rule, even if that same clip has portions that do meet a rule, it gets marked as "Not saved by a rule" which can be misleading to us mere humans wanting a quick perusal of the events of the day. (I'd prefer it to be the opposite, i.e.: not mark the clip if any portion of it IS "Saved by a rule". but the designers feel differently.)
(Additionally, I'd like to pick multiple rules to include clips from multiple cameras and/or multiple rules, and get one combined list of clips for just those. I have one wide-angle camera and have 3 rules for different areas of the scene and sometimes I'd like to see all the generated clips from maybe 2 or 3 of the rules for that camera. I also have cameras that have adjacent or overlapping views and I'd like to see the list limited to just those two cameras or their rules. I see that as being better than having to generate the list for one camera/rule, view an event, then interrupt my thought process by having to select a different camera/rule to view a continuation of the event based on the different camera/rule. But again, that is not part of the design at present. But hope springs eternal!

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