Welcome to the forum!
You are right, it can be confusing. I had difficulties to wrap my head around the concept, too. The way you need to proceed if you want to update your profile based on the current profile with its changes:
- Set the focus on the current profile wich is ticked off. You have to do this because if you open the profile manager the focus is set on an empty default profile (that was the confusing part, I guess).
- Duplicate and save as with a new name
- If you want to “officially” activate this new profile - which is no different from the profile you are currently working with - you need to activate it and restart the project.
That´s about it in a nutshell. Hope that helps!