The instructions that you will find on their web site do not mention the button you describe.
Re-setting the hands is done by pressing the button B (4 o'clock). The instructions are a little ambiguous, so if this fails, then press button A to start and A again to Stop. Then try button B to re-set.
You appear to have the wrong instructions. A new set can be downloaded by going to their web site (www.raymond-weil.com), put your cursor over "customer care" and a drop down menu will appear. Select "instructions for use" and an index of watch types will be displayed. Download the one for your watch.
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Solution was to pull out the crown to second notch. Press the button at the top right to move hand to 12. Press crown in 1 notch the press bottom right button. Hand will now be aligned to number 12 on face of watch.
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