When you use chords that are written to be recognized by the player, you will have backing-track/practice functionality. Your charts will also use the chord symbols that are familiar to the many thousands of musicians using iReal pro.
Recognized chords are listed in the chord menu in the editor.

For your own read-only gig charts you can pretty much follow your preferred conventions. In the iRp editor, non-recognized chords will be written in blue. When the chart is saved, your chords will be printed on the chart.
When the iRp player encounters an unrecognized chord, it only sounds the root bass note.

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)BOB