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If you haven't already, the first thing you'll want to do is configure the Send SNMP Action connector, which is on the appliance. Go to Manage > Appliances, click on the gear next to your appliance, go to Tools/Connectors, navigate to the SNMP active response, and create a new instance for it.
After that, go back to your rule. The destination host and rule are something you can specify in each action, that way you could send multiple traps to different places. If you want to send to a fixed host each time, click on "Constants" (on the left) and drag and drop a text constant over to the Destination Host, then click on the box with a pencil next to it to type in the value (IP address, generally). If you don't specify a port, we'll use the default SNMP trap port.
Corresponding pictures for this are also in this blog post: Log & Event Manager 5.4 RC Available - near the bottom, search for "sending SNMP notifications"