With this icon you determine whether given frames should be printed or not. Clicking on the right (crossed out) printer icon will prevent all selected frames from being printed. (Naturally you can also switch off frames on the master page for printing.)
This feature may be useful for producing multiple-choice test forms, for instance. You first draft out the complete questionnaire with all the answers. When printing the form, all frames that contain the solutions and answers are switched off and you printer will produce forms ready for use.
Or think of scanned copy (say forms) that you use as a template for the design of your page. Outline frames for CD inserts or punch-marks for printed sheets for binding are further applications.