As anon848905 mentioned, you can see the history of changes to a biblical term rendering by double clicking on the rendering in the Biblical Terms Renderings window or the BibT tool. See the green arrows below:
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Conflict notes don’t get created when two different people make a change to the rendering of one biblical term. Only conflicting changes to verse text result in a conflict note.
I believe that in the case of competing changes to a biblical term rendering, the change from the most recent Send/Receive always “wins”. Meaning two people could each make a different change to the same rendering but whoever does Send/Receive last decides the “latest” rendering. (I may be wrong about that, hopefully someone will correct me if that’s not how it works.)