Hi busseguy.
Your charger should be set to "3.6" Volts to charge the "3.7 Volt" LiCo (
Lithium
Cobalt oxide) AW cells you have. It probably won't damage them to charge them with the "3.0" Volt setting, but they will end up being only partially charged, eg. <40%. As has been pointed out, the "3.0" volt setting is for
LiFePO4 (lithium iron phosphate, or "LiFe") cells.
Not to make things more complicated, but I'm sure it will, there are also LiCo cells that have diodes installed within the cell to reduce the output voltage.
These cells are usually
labeled "3 Volts", but are actually a bit higher than that, similar to LiFe cells when under load. This type of cell requires a higher voltage charger than a LiFe cell, and also higher voltage than a regular LiCo cell, to overcome the diodes, usually 4.4-4.5 Volts.
As old4570 said, you have to be careful matching cells to chargers with all these different chemistry cells. The effect of using the wrong charger with the wrong chemistry, can range from simply not fully charging the cell, to considerably overcharging the cell, the later which may just shorten the cycle life of the cell, or in the case of charging a regular 3.6-3.7 Volt LiCo cell with a "3 Volt" LiCo charger, could be potentially dangerous, as the end voltage will be considerably higher than is recommended.
EDIT: mdocod, you beat me to it!
Dave