Purple Rain is a nice Flare preset that represents a custom designed group of effects that you can apply to your photographs with a single click, in order to give them a new look.
To use the Purple Rain preset simply double-click on the icon and it will be installed in the proper location and will appear in the Flare Presets list. Easy!
If you would like to remove a preset from the list use the same method. Click on the gear icon and choose "Delete".