Save Current View allows you to adjust your default view when opening a file. You can change the camera angle, hide parts, modify part appearances and transform parts and then save those changes to the models default view so that each time anyone opens that particular file, these changes are applied. This is currently setup so anyone viewing this same file will see the updated view.
For example, you have the following file and you would like to change the default view.
You can make changes, such as change material and transform parts, and then set this as the models default view by picking the Save Current View option on the Settings Panel.
The next time you, or someone else, opens this file, they will see this updated view with the changes you have made. These changes can be reversed by picking the Reset button beside the Save Current View option. The Reset button will only be active if Save Current View has been applied.