The quick add cue toggle button allows users to quickly switch between adding STEP cues and Timed cues. When you click the toggle or use the keyboard shortcut, the quick add cue button will toggle between modes as shown above.
NOTE: The quick add cue toggle does not affect the keyboard shortcuts for adding cues. Option/Alt + A will add a timed cue while Shift + Option/Alt + A will add a STEP event.