What a cool card! The surface-mounted PLCC chips give the card a real "retro future" vibe. There are a lot of little programmable logic devices on the card as well, presumably because the 82C43x EGA chipset is a 100% clone of the IBM EGA chipset and thus lacks any kind of hardware CGA/Hercules emulation support.
Note that your card appears to be a "Video 7 EGA+" from 1987 (based on the BIOS label) and has a sixth switch that isn't present on the older VEGA cards. Presumably this switch enables some kind of "Super EGA" support, perhaps for a 400-line or other high resolution monitor? [Even though there is only a 16.257Mhz oscillator on board, hmm...] But SW1-5 ought to work as described.