Clicking the button will ask if you want to remove measurement(s) assigned to the measurement panel toolbar. You have three alternatives as shown below.
Note: This operation does not delete the measurements from the hard disk. But if a reset button is pressed, it will be saved and the measurement will be overwritten with the new active measurement without asking the user. To keep the old measurement data, use the option below and e.g. change the folder where the data is saved.