The Transform area in Studio provides a locking mechanism to ensure that multiple users working with the same data set within a project can't transform the data set at the same time.
Transform locks a data set when a user previews or saves a transformation (that is, when the user clicks Preview or Apply to Script from the Transformation Editor). The lock remains set for a period of time, which is extended each time the user previews or saves a transformation, or while they are actively working in the Transformation Editor.
Transform thus locks the data set when a user clicks Commit to Project, which runs the transformation script against the project's data set. This lock applies to all users, including the one who ran the script.