As an aside, the Mem/Pulse switch on your probe represents "memory" and pulse. In Mem mode, a single pulse will cause the pulse LED to light and stay on. In Pulse mode, the pulse LED should flash for every logic transition leading edge.
As an example of use, if you wanted to know whether a switch activates intermittently while playing a game, you might use the "Mem" mode. If you're looking for a steady strobe or a clock, you would use the "Pulse" mode.