Clean Up preferences help you to use consistent COBOL terminology throughout your programs. Whereas the formatter profiles determine the layout of the program, code clean up actually makes changes to the written code, but those changes should not affect the outcome of the program; they are simply ensuring consistent phrasing of certain COBOL keywords (such as 'PIC' or 'PICTURE').
The Clean Up preferences are stored in profiles, which means that you can store different sets of preferences and then choose which set of preferences to work with at any one time. Switching between these profiles allows you to code to different standards from project to project: simply choose an active profile from the Preferences section before you invoke the Format with Clean Up option from the COBOL editor.
Your list of user-created profiles is workspace-specific, but you can export them to another local workspace or to another machine. Sharing profiles enables development teams to create consistent looking code throughout the team. There is also a default profile (named Micro Focus [built-in]) in every workspace, which cannot be exported, but it can be used as a base set of preferences when creating new profiles.
When creating or editing profiles, you can use the Preview pane to see what effect an option will have on code in the editor. To clearly see the effect it will have, toggle Show Original Code to switch between an example of the new changes and previously formatted code.