How do custom actions work and how could I use them in projects?

I've been using Construct 3 for about 1 and a half years, I'm rather curious about how these work, and maybe could be shown some examples of them in action?

There is an example of it in action in one of the “what’s new in construct” release videos on YouTube. But basically it’s similar to a function.

You make a custom action trigger and associate it with an object. Let’s say a button. Then you add some actions eg. change color. Animate it’s size. Spin etc.

Now when you call the custom action elsewhere in your project it will apply those animations etc to the button.