Save to Folder Set... button
Use this button to determine the folder into which the translated image will be saved.
Click the button and the Select Destination dialog appears.  

1.
Locate the desired folder.
2.  Select it by clicking it once, or double click it (it will Open). The Select "folder name" button now indicates the selected folder's name.
3.
Click the Select "folder name" button.
4.
The Translate File... dialog reappears.

The text next to the Save to Folder Set... button now indicates the selected folder.  For example, Hard Disk:Project X:Images indicates the image(s) will be saved to the Images folder, located in the Project X folder, on the disk named Hard Disk.