Thank you for the responses to the thread! I indeed took it out for a test run today and ran a 24 exposure roll through it and boy am I impressed with the results! I took it into a local camera shop thinking the guy behind the counter would know what the letters meant and he looked at it like I had just showed him a three week old sandwich!
I had gone out this morning before I had a chance to check the replies to this thread so I just kept the lever in its default position Now I know what it is for I doubt I will ever use the function as I don't intend to try it with a flash!
I couldn't believe how sharp some of the photos came out considering the age of the camera, the fact I used a roll of pound shop Kodak film and the fact that I got it developed in one hour in a high street chain! Really impressed with the camera, the gent I bought it off sold me another three Voigtlanders with it for £30 and I hope they all work as well as this one!