iTerm2: Difference between preloaded Light and Dark themes I can't seem to spot the difference between the preloaded two themes: Light and Dark. 

Background: I was looking for a theme that "inverts" the default color scheme, i.e. dark text and light background, but neither seem to achieve this.

Could someone en-light-en me? (Pun intended.)
That toggle is under the tabs section; it changes the theme of the tab bar, not the actual terminal view itself. To change the terminal theme, choose the Profiles tab, select a profile and edit the colours as you wish.