The 'Wheel' button switches between the two mouse wheel modes.
When the 'W' button is off (not green) wheel movements tune the receiver up or down by the step size and keep the display centred on the new frequency. When it's on, the panadapter and waterfall stays where it is and the new frequency is shown to the left or right, if it is within the spectrum width. The tuned frequency can be brought to the central position, at any time, by clicking the 'C' button.