Using that reset switch does either a level 1 or 2 reset depending on when you press it during the sequences. In either case, you lose all of the programming data so if that's a concern, then level 1 is probably ok. Patches and keycodes are left intact too. If you mess up and accidentally go to level 2, you lose everything and system reverts back to factory ie all keycodes and patches are removed and it loads the factory default program.
For a level 1. you press it once. The power led turns solid red, the status led to flashing yellow. (if you don't do anything at this point, the system boots normally). Wait five seconds, the power led will be flashing red and the status led flashing yellow (it's now waiting for a level 1 reset confirmation). Press the reset button again. The power led will be solid red and the status led solid yellow. The system will now perform the level 1 reset and erase all programming.
Once it's finished, the system will reboot normally and when both leds are solid green you should be able to log in with default credentials.
Just make sure you wait longer than 5 seconds from the first push of the reset button. If you push it too soon, you go into level 2.
Good Luck.
