The Settings icon is a bit of misnomer--the only action available is signing out of your SkyDrive account. Note, however, that one useful piece of information it provides is storage usage. I thought I was using a fair amount of storage because I used SkyDrive every day. In fact, I'd used almost no storage at all--most of my document files were relatively small, and photos automatically uploaded from my phone were rescaled during the upload process so that none were larger than 250KB. That was good to know.