The term "Pallium" refers to grey matter (cortex) and white matter collectively. That, as far as I know all there is to it. Non-pallial part of telencephalon - subpallium. Archipallium is contiguous with olfactory cortex and makes up hippocampus. Paleopallium makes up parahipocampal gyrus and primary and secondary olfactory cortices. Neopallium is a different name for neocortex.
All of these words are just to name different parts of the brain. They are not part of a concept of their own.
As far as dorsal, ventral, medial and lateral go, they are a form of position markers. Dorsal - top (of the head), ventral - bottom, medial - middle (between the two hemispheres), and lateral - moving away from the middle, towards the side of the brain.
I hope that helped