This allows you to regenerate the Component ID for multiple Products at a time. This can be used to "fill in gaps" in your Component ID for wires to get a sequential list.
In this example I have sorted my Component ID column and see that there are gaps in my numbering due to deleting/re-adding products while building the Project, e.g. my numbering goes from AUD-014 to AUD-017 etc.
I select the Products AUD-014 through AUD-025 and click the [Regenerate] button on the ribbon:
.
I clicked [OK] on the following prompt:
My Component IDs have been regenerated into a sequence: