Within the Sequence Wizard, the Save Sequence button saves a User-defined Sequence to a .GSequence file.
The saved sequence can be re-opened and edited later. You can always load, modify, and run a sequence saved to a .GSequence file. This is different than the Save As Script button. When a script is generated, it can be run as often as required, but making changes to parameters or adding steps cannot be performed within the sequence wizard.