The Script Management section of the Script toolbar lets you create, update, and delete scripts. 

Add New Script

Add New Script launches the New Script dialogue, which allows you to add a script. 

Update Script 

Update Script launches the Script dialogue, which allows you to edit a script.

Convert To 

Convert To is an inactive feature that will be used in future versions.

Delete Node 

Delete Node deletes the highlighted node, and all its child nodes.

Recover 

Recover allows you to recover previously deleted nodes, along with any child nodes.