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Can you not simply Ctrl-Click the playlist and select "Edit Playlist"? I don't have the default list that came with iTunes, but that's the way to normally look at others. Another option is to delete the default and then create you own with the same name and add your own criteria.

Hope that's helpful! Good luck.
 
Last Played is in the last 2 weeks (Those are what the boxes say, I realize that's terrible English)

Live updating and Match all are checked, the other two options are not.
 
To see the search criteria of any Smart Playlist, just right-click on the playlist and select "Edit Smart Playlist"
 
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