Could someone tell me exactly what this button is for and its purpose. I know clicking it puts the character at the top of my character sheet, but is there any purpose beyond that?
As Rath_Tarr said, it's a favorites button. Not only the character will appear to the top of your roster, but also when you buy gear in the shop, the gear that is currently needed by that character will display the same symbol, or while you are placing gears on some other toon, you will immediately see that that gear is also needed by your favorite toon, as it will appear as the first in the list at the bottom of the screen
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