The Fix HTML button in the editor is for those times when you want to include HTML as examples of HTML in your answers (that is, you want to do it in such a way that they display as HTML code, not the browser's interpretation of HTML code).
Gad, that's hard to follow. An example will make it a WHOLE lot clearer.
Suppose you want to include this in your answer:
<a href="http://www.rdpslides.com/">Don't click here or you'll be taken away and landed on our home page</a>
and you want it to look like html but not act like it when people view it in their browers.
Easily done. Enter the HTML code, select it, then click Fix HTML. Friday replaces greater than and less than and all those other HTML code bits with the proper HTML codes to make them appear as normal characters in the browser.
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Friday The Automatic FAQ Maker