As each card is searched it is displayed on your screen. The message box will indicate the text being sought and whether Card Fields or Background Fields are the current search target. Hidden fields will be displayed during the search offering visual verification that all fields are being looked at.
Upon finding your specified search word, you may witness its replacement before your very eyes! When all of the specified fields (Card or Background) have been searched, you will be returned to the card from which the "Replace..." button was clicked.
To Cancel the procedure, press Command-Period at any time.