Make changes to all the tunes in the current list. which may be a selection reached via the Search page or browsing the collections, or it's the full list of all your tunes. A link to this page is only offered when it's applicable (it doesn't make sense if the list includes other peoples' tunes, that you can't make changes to in the first place).

This can make some drastic changes to your tunes. You will be given a 'confirm this' page that tells you what the site has understood you to be asking for, and gives 'Okay' / Cancel' buttons. more explicit stuff somewhere on backup/Undo via ABC download/re-upload.

Delete

The most drastic of all. Self-explanatory. All listed tunes are completely removed from the database, and disappear forever.

Change all the values

Add or remove specific values for specific fields.

Add New Value(s) and Key(s)
Indicate a field and a value for it, and that field value will be given to each tune in the current list. Either select a field out of the listbox on the left of the widget and write the value into the text field, or write an ABC key:value pair straight into the text field. Used in the latter way, you can supply multiple lines to set several values at the same time (if these are multiple values for the same field, give the key each time).
Remove existing value(s)
This is more complicated to display, since it allows you to indicate specific values for particular fields - this is very similar to the 'fancy' tune editor and search forms - indicate values for fields, push 'change' button, confirm, and those values are deleted from all tunes in the list.

This is nearly a search-and-replace, but ...

... not quite, necessarily. It depends on the list you start with. This seems worth mentioning, because I've found it unexpectedly confusing. Values to be removed will be taken out of any tunes where they are set; tunes in the list that don't contain that value will be unaffected. Values to be added will be put into all tunes in the list, regardless of whether any values were removed; all tunes in the list are affected.

So if you want to use this as a search-and-replace, to change all instances of a value into a different value, you need to be operating on a list (selected from the Tune Search form) where all the tunes contain the value to be changed; in which case removing that value and adding a different one will do what you want. But if the list contains any other tunes, they'll get the new value too.