LCS Manager allows you to manage local coordinate systems created in the Assembly framework. You can create a new LCS or edit/delete existing LCS. There is a filter to toggle on/off filtering of LCS by Owning entities, which when off will display all LCS, or on only those owned by particular entity, for example ROOT, Module or Connection. It is also possible to display all shared systems by activating the Also display all shared systems checkbox.
The LCS Manager is invoked by clicking the icon, which opens the Manage Local Coordinate Systems dialog.