In total you have five AF point selection modes. The "normal" way of selecting between them is to press the AF point select button (same as magnify) and then pass through the modes with the M-Fn button.
If you can't see all five modes, they aren't all enabled. You can select which of them you want enabled in a custom function in group III.
The modes don't function exactly the same in One Shot AF as they do in Servo AF, but the general idea is that you start with the smallest point and as you roll through the modes, the coverage gets larger and larger.
Which mode is optimal for a certain application depends on too many things to tell for sure, without being there, but it's of course so that if it's easy to keep one AF point steadily on the target, then don't use any more. If the target is flimsy, then you may need assistance from more points to cover the target, especially when tracking with Servo AF. When using One Shot AF, things are usually standing still (or should be), and then how you focus is often not that critical.