"Cut" is used to remove the selected object or group of objects from the scene. "Cut" copies the object(s) to a 3D clipboard. The contents of clipboard can be "pasted" back onto the scene, or into another Open-Inventor based program.
Hint: Because it copies objects to a clipboard, "Cut" can be slower than "Delete". Use "Edit - Delete" if you are sure you are not going to use "Paste" in Ez3d or another program. To undo the "Cut", use "Undo" rather than "Paste" the objects back.