If you want to exit you can press on the invisible button / space right below switch on the new GUI. (helpful for people who don't want to look at the black screen for 10 - 20 seconds until it exits)
Codys Switch GuideNo offense LordLava but yours is somewhat complicated to understand for people like me (haha I'm kidding) but to keep it simple for people that are getting confused like me I'll make a guide below with some pictures.
Hopefully this fixes any confusion people are having with the new Switch system, I know I was having an issue with it at first but after it was explained to me better I understood it.
Step 1: Have the Item you want to be in Group 1 equipped (This can be a Belt, A Piece of Armor, Amulet, Ring, Weapon, etc). For the sake of this guide the item I want for Group 1 is my Titanium Axe which is viewable in the screenshot below.
Step 2: Select the weapon you want in group 2 and bring it to your mouse cursor (Shift + Left Click) the screenshot below will show you what it would look like if you had selected a Bronze Axe and brought it to your mouse cursor.
Step 3: While your weapon (Bronze Axe) is still in your cursor press F12 twice, this will set the item to the second group or what I call the "Switch Set".
Step 4: Press F12 with the Bronze Axe placed into one of your inventory slots and you should switch from the Titanium Axe to your Bronze Axe (Interchange the item names for your specific items). Press F12 again and it will switch you from your Bronze Axe to your Titanium Axe!
Note: You cannot switch between items if they are in your Depot, you can also not switch to an item you don't meet the requirements for.