As for example, existence of limit cycle oscillation means the existence of hopf-bifurcation. I am very keen to know the ecological significance of these terms rather than mathematical meaning. How can we relate these technical terms in real life?
With regards to your question on significance of periodic solution, limit cycle oscillation etc., I got several papers which relate these dynamics with the biological perspectives:
Diversity in interaction strength promotes rich dynamical behaviours in a three-species ecological system - ScienceDirect
Local dispersal, trophic interactions and handling times mediate contrasting effects in prey-predator dynamics - ScienceDirect
In particular, you might want to read the "Discussion and ecological implications" section of the papers. If you need these papers, can pm me. Good luck :)