It’s a button on the previewer that when you press it moves the speechbubble a little lower. But what does it do? Why is it there? Does anyone have an idea?
It allows you to move the speech bubble around.
It assists with spot directing. E.G. 
You can chose where your speech bubble is on the screen and where the tail is.
The speech bubble is in front of my character.
The speech bubble is now in a different position, not in front of my characters.
I know how to move and direct a speechbubble, but if you look at the button beneath the “cycle tail” one you’ll see that it says “toggle posisitons” and I have no idea what it does.
I know this is old, but I found out. xD
Toggle Positions will toggle what side of the tail the speech bubble will be on.
I don’t understand it, yet, but it’s in the Episode Guide.
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