I work for a company that produces pellet, pulverized, granular, and gypsum.
Pelletized lime is just pulverized lime binded together with tree sap extracts. It is that way so you can put it in a fertilizer spreader to distribute across your lawn. It needs water to break down and is far less concentrated than pulverized.
Granular takes anywhere from 4 to 5 months to have an effect on that soil. It is usually put down in fall around the midwest/NE US to neutralize the soils from the spring rains/thaw.
Gypsum is a calcium rich additive that is designed not to effect your soils pH drastically in either direction. It is used for aeration of clay rich soils as well as reducing the nitrate concentration in certain areas (patches of dog piss that has burned the grass)
Pulverized limestone is not to be mistaken with hydrated lime, which used to be popular until idiot customers started to get chemical burns. Hydrated lime of the past is only used in masonry applications for making mortar mixes have more of a buttery texture. If you really want that, it is in the concrete sections of big box hardware stores.
Pulverized limestone comes in two varieties: Calcitic and Dolomitic.
Calcitic is calcium rich and contains trace amount of magnesium.
Dolomitic is Magnesium rich and contains around 25-33% Calcium.
Both will acts as buffers in the right environments, however adding neutralizing ingredients will run the risk of a salt build up. It is best just to add the right amount of Dolo limestone in the first place.
Figuring out the correct amount is difficult due to the wide variations between set ups. I just add a touch below what the bag specifies and if I run into problems I can add more as a dressing and allow water to draw it in the soil.