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When I open some Java applications, especially examples launched from Java Web Start, I will often see an exclamation mark next to/covering the close button, depending on the window size. It is a bit worrying actually.
What does it mean, and what is its function?
It means the app. is sand-boxed.
The function of it is to inform the user that an app. is running that is sand-boxed.
See Exploring Security Warning Functionality for more details.
It is supposed to be a bit worrying, actually. Don’t go typing your bank account details into one of those floating windows that looks ‘something like’ your bank log-on. 😉