This library generates a Pule-Position-Signal using interrupts, so you don't have to care about timings in your software! For more details what an PPM signal is, please consult the english or the german wikipedia article. Take a look at the examples how to use this library - I hope you find it easy to use :)
A simple visual on how a PPM signal works:
Your value range is from 0,5ms to 1.5ms. This results in timer1 overflow values from 500 to 2500 - which is your range you can use.
By default there are 8 Channels use can use. You can set this value using the begin-function.
void begin(uint8_t outputPin);
void begin(uint8_t outputPin, uint8_t numChannels);
For more than 8 channels, the frame length has to increase - which is not configurable yet.