The ABL (Automatic Brightness Limiter) settings are a convenience to try and give you a limit on the “maximum brightness” your strip will use, assuming your power supply is too small for your complete strip. It doesn’t measure the actual power being used, it just does some math based on the settings you input and tries to keep the total brightness down so the calculated current doesn’t go past the total you say your power supply can provide.
I don’t consider this to be a “safety feature” at all, the only proper safety design(s) involve correct wiring, correct power supply selection and fusing as required.
That said, you can use the ABL to get an idea of what power your strip is using. You need to figure out what your LEDs consume per pixel, either from the mfg. specs or (better) measure their actual draw. You can put that figure into the Custom entry and make sure you tell WLED that your PS can provide more than the max all your LEDs will need at 100% White.
You can read the total current being drawn “live” under the Info tab.
You can’t “blow up” your LEDs as long as you use the proper voltage of power supply that they’re rated to use.
You can think of each pixel as a “black box” that needs a voltage supply to run.
In your case that’s 24V, apply that to the + and - terminals on the strip and you get - nothing no light
Add a data supply from WLED to the data line (and - or Gnd) and now you can program each pixel to provide a colour at a brightness you want. The power each pixel needs comes from that 24V supply, but each pixel only draws what it wants so that it can produce the light you ask it to (via WLED).
So the power supply doesn’t “push” anything, it provides what the LEDs ask for. Where things get interesting is if your LEDs ask more than the supply (or your wiring) can provide. If all the pixel’s “requests” add up to more than the total your supply is rated for - then something’s gotta give.
Usually what happens is the supply’s voltage starts to drop. Depending on how bad the pixel’s “overreach” for current is, the supply may try and protect itself and power down (or Something Bad May Happen).
The ABL concept is an attempt to keep your setup out of the Bad Happenings zone. But as I said earlier proper design is a better idea.
Your settings are just fine for your setup. Working from the total Watts required will give you the current per pixel (worst case) as you’ve seen.
WS2805 is about 12mA per pixel per color. I think for 5 colors you would type in 60 mA, although I’m not 100% sure how that feature calculates current.