Hello friends, could you inform me when the CAPs Mode option is checked in System> Reset Configuration what would be the action when resetting my RouterOS?
In the Wiki link I can not find the explanation (https://wiki.mikrotik.com/wiki/Manual:Configuration_Management)
To be honest i have never tried this. But the caps mode should just have the advantage that the router is directly searching for a capsman server. Which firewall rules are applied needs to be tested tho. Do you need the caps mode or did you just ask because you have seen that option?
Actually this function may be what you mentioned, it makes perfect sense. At the moment I’m not wanting to use this function is just curiosity, because the other options know each other except that one.
So what is the actual answer? 5y later, this post is first hit on Google for ‘system reset “caps mode”’, and I’m none the wiser 
Since I just landed here the same way as you did I wanted to save the time for some other unlucky user. This video explains what that mode does. Time is around 3:42. Note the “if the device does not any configuration you would like to retain” part.