The multi-function button performs one action when held as power is applied and a different action if pressed and released when the camera is ready to be triggered.
To perform a factory reset, remove power, press and hold the multi-function button when power is applied, and release the multi-function button when the system LED starts blinking yellow.
A factory reset, returns the camera settings to the values set when the camera was manufactured. In order to allow the camera to properly reset, close the camera's browser tab. Reopen the browser tab anytime after the camera LED starts blinking green or is steady green.
As the camera continues to boot, you will see the system LED blink white and blue for several seconds as the factory reset is being performed.
A factory reset changes all the camera settings to their default value and deletes any Configuration Files you have installed in the camera. Captured video files and metadata files are untouched.
Pressing and releasing the multi-function button when the camera is operational will cause a trigger event, exactly like using an external remote trigger device.