Analytics-Profiles box lists all profiles that could be found in your added accounts.
You can uncheck profiles that you no longer use to hide them in the profile selection in the report views.
After you created new profiles or modified your profiles at Google Analytics you should use the
Refresh Profiles button to fetch the updated list of your profiles.
The small pictures at the left are screenshots of your website that are configured with your profiles. This feature is only supported for the iPad 2 and newer.