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This is just another ui controll allowing to change the project view, it does exactly the same as the customizer of project main node for example. See section 4.2.2 of the Projects Infrastructure UI spec (Figure 2.) for details.
done.
VERIFIED
As described in http://www.netbeans.org/servlets/ReadMsg?msgId=619519&listName=nbdiscuss the current work on projects prototype has been stopped. Marking issue as CLOSED.