For the profiles listed you may see a default replacement client profile or server profile (or both) reflected, depending upon the direction of the proxy profile as being forward, reverse or two-way, respectively.
When 'Synchronize Changes' is on, objects having the same type, name and within the same domain will all have their new or selected profile selections changed as well.
When complete, all newly named client or server profiles will be created using the given names. These new profiles will have the combined settings of the proxy profile plus its referenced crypto profile.
Existing client and server profiles will not be changed.
When complete, all objects referencing the related proxy profile will be changed to reference the client or server profile, depending upon the referencing object.