Reload as HTML

Hello,

I have search high and low, and just about everywhere in between, but I 
still can't find what "Reload as HTML" really does. Does it simply ignore 
the error messages that are thrown up, or does it do something else that I 
am missing? And if all it does is ignore the errors, what is the difference 
between "Reload as HTML" and "Cancel".

Any help on this would be most appreciated -- I am loosing way too much hair 
on this :)

Thanks in advance,
Adam