I think there is a bug in the Set Action Delay action. When I change between "for this macro" and "permanently" the first part of the title, that is "set" changes to "reset" or vice versa. Changing other options in the action also changes parts of the title, but they don't seem to be the appropriate parts.
As for why the heck I'm playing with this action and the !use with caution! permanently setting, it's to try and resolve an apparent clash between keyboard maestro and unshaky, which itself is to resolve my silly bluetooth numberpad that has decided to repeat keys intermittently
It always amazes me that an obvious bug like this can live in Keyboard Maestro for four years without being noticed (or reported anyway).
Thanks for reporting it.
Fixed for the next version.
And yes, as you note, this is really an action you do not want to be using except in very unusual circumstances.