When you press the red "melt" button, an electric current flows through a junction between two metals (antimony (Sb) and bismuth (Bi)) and heats it up. The Sb-Bi junction is fixed to the slides on either side of a thin layer of menthol, which melts when it reaches 43°C.
When you press the blue "rapid cooling" button, the electric current is reversed, the junction between the two metals cools down instead of heating, so the menthol freezes solid again. (Freezing Point is the same temperature as melting - about 43°C.)
If the menthol cools quickly, the crystals are tiny. If it cools slowly, the crystals grow larger.
The crystals are being viewed between "crossed polarisers" in the same way that geologists look at thin slices of rock to identify them.
The colours produced by different minerals can be recognised, as well as the characteristic shapes of their crystals.