This menu option button toggles the display for attributes which contains an array of values. If you use it, ALL multi valued attributes in the current list are show expanded or collapsed:
This was the collapsed view, here comes the expanded display:
You cold also use the Show Multivalued Attributes button to switch the display mode from multi valued to condensed output and back.
Please note that there is a quick and easy way to switch the multi valued display for one single attribute in the list: Just press the SPACE key on your keyboard or use the context menu (right mouse click) and the option Show Multivalue as Array / Show Multivalue as Singe Line.