There seem to be more paramters in the Altera Help than in the User guide. For INIT_FILE_LAYOUT:
--- Quote Start ---
Specifies the layout port used with the initialization file. Values are "PORT_A", "PORT_B", and "UNUSED". If omitted, the default is "UNUSED". If the OPERATION_MODE is set to "DUAL_PORT" mode, the default value is "PORT_B". If the OPERATION_MODE is set to other modes, the default value is "PORT_A".
--- Quote End ---
There are not that many paramters that are required. Ususally I just omit anything I dont want to mess with specifically.
Is there any reason you're using the mega-wizard and not using infered ram? Afaik, the only RAM you cannot infer is mixed-width true dual port dual clocked ram, or changing to write-before-read behaviour (this is annoying, because although a shared variable would allow you to do this, altera just infers read-before-write regardless. X does it properly). You can use attributes to specify some of the paramters like RAMSTYLE and init_files.