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This way, your charts will always start out with your desired configuration. If you've customized a chart (added studies, changed bar type, etc) and then switch templates, the previous changes you've made to the chart are not retained. The chart, however, WILL attempt to place any tools from the previous chart over the new template. Keep in mind, though, that tools are placed at specific coordinates on a chart, and may loose their placement accuracy as a result when a new template is applied.
Templates are either created in the My Barchart tab, OR you may customize a chart to your preferences, click the Templates button, and select Save as Template.