Lee,
The Fakesheet mode works in conjunction with repeats and endings. Essentially, if you have a song set-up with repeats and endings, activating the Fakesheet option will display those repeats and endings. If you deactivate the Fakesheet option, the song will be displayed in a fully linear view.
If you are interested in finding out more about repeats and endings, PG Music has a tutorial under "Help". Follow the 1, 2, 3, 4 on the image below.

The folder that the tutorial mentions in the the \bb directory and is called "Tutorial - Repeats and Endings". There are some excellent examples in the folder. I recently worked through these to help a forum user and it took me around an hour to understand how repeats/endings worked.
HERE'S A LINK to the thread. The solution to the problem is in my last three or four posts (near the end).
Regards,
Noel