This option simply dumps the current record to XML and loads the result in the browser.
This option is not available for templates.
This option works regardless of the 'Record File Type' setting.
The browser that is used will depend on your current broswer selection.
It is also possible to go to your data folder and double-click on a record to open it in your default browser, or, optionally, to use the context menu and view the file in other applications.