Allows you to select objects in the scene, based on the selected material in the Material Editor.
Clicking this button displays the Select Objects dialog. All objects that have the selected material assigned to them are highlighted in the list.
Hidden objects don’t appear in this list, even if the material is assigned to them. However, in the Material/Map Browser, you can browse from the scene with By Object turned on. This lists all objects in the scene, hidden or unhidden, along with their assigned materials.