The Clear Data to Default dialog allows you to:
'Clearing to default' removes any 'user data' (shown in red) from the current object and instead default data is passed from the 'parent' object in the hierarchy (Model Data shown in blue).
You can control the extent of the 'clearance' by setting the 'Clear Down to' data at the bottom. Leave this data as 'Surface level' if you want all data in the currently selected model object (including child objects) to be returned to a default state.