It lists the components currently available in the workspace. You can create or open as many components as needed.
The Component Development Environment (CDE) always create a component's project inside the workspace linked to the real component's files stored in the user's component path (Component Repository). There should be all component files in the Eclipse project, and later you can deploy the component into Processor Expert component repository.
Any deletion of components in the Project Explorer (workspace) only deletes linked files in the workspace, but not the component in the repository. To delete a component from the repository, you need to open the Component Editor and right-click the component and select Delete option.