There's nothing in that field by default, so vanilla "as it comes" EasyBCD will always operate on your "live" BCD.
However, it's possible to build a multi-boot where any or all of the systems have an individual BCD ( makes for good crisis fall-back ability), and EasyBCD gives you the ability to keep each/all up to date without the necessity to reboot via another BCD to modify it.
The "blinking red light" is the second line of the "view settings" you posted.