Snapshots are a way to save works in progress, with automatic numbering. The snapshots are regular .lw8 files that are saved in the Snapshots folder under the defaults Layouts folder. The default location will be Documents\LED Wizard 8\Layouts\Snapshots.
Open Snapshot
Open a previously created snapshot.
Save New Numbered Snapshot
This command will save a new .lw8 file as a numbered snapshot file. You just have to press Ctrl+Alt+S to save a new version of the current document. You don't have to pick a unique filename in order to have a point-in-time snapshot of the document.