Okay, so I've spent a while researching this further and found the Autodesk "help" topics to be rather unclear on the topic. They also seem to muddle up references to the Heating & Cooling Loads calculation tool...

... with the HVAC Systems Loads and Sizing calculation in the Systems Analysis tool..

which adds to the confusion.
After some trial and error though I conclude that the Detailed Elements check box has no effect on the results of the Heating & Cooling Loads tool BUT the actual construction elements are used in the calculation if the following options are used:-
- do not check the overrides boxes in the schematic types dialogue
- select "Use Conceptual Masses and Building Elements" option in the Energy Settings dialogue

With these settings IF actual construction elements with thermal properties are present then these will be used, if they are not then the conceptual masses will be used instead. Detailed Elements check box has no effect.
To prove this I created a test project with two spaces, identical except for the type of construction elements and applied some tests the results of which are below.
One thing to note is that the results from the Systems Analysis tool are significantly different from those obtained by the Heating & Cooling Loads tool but I haven't had time to explore this deviation.

I would now be relatively happy to use this Heating & Cooling Loads tool with some more confidence but bearing in mind that it does not, for inexplicable reasons, calculate heatloss through the floor.