The small watch icon at the right of each sync job serves two functions:
(1) Before you run your job it gives you some advice on what to check, in terms of the broader Internet's current health, and what to expect when you do run your job in terms of wait time, API limitations and/or reputation.
(2) While your job is running it gives you real-time API performance statistics about how fast the job is working and how exhausted your data source's API is.