The “Hold off” wheel determines the time that passes between the end of a sweep and the start of the next sweep. The expression is derived from the invisible (“off”) beam and to “hold” it in that situation.
This realtime function is not implemented in the simulation, because the calculation speed needed to simulate a near-to-reality timing cannot be reached using the Macromedia scripting language “Lingo” and current processors. The wheel can be turned, but the setting does not influence the display.