You didn't say specifically what your application was, but since you said "recloser", I assume you are using it in a situation where you have transient faults (i.e.,a utility).
We set ours to reset automatically upon successful reclose. If the device goes to lockout, the targets remain. Otherwise, it has been our experience that when you DO have a lockout condition, your targets will ALL be flagged from last weeks lightning storm and meaningless for the present condition.
Now, if you are talking about when to reset the timing function that takes the device to lockout, I'd like to ask the same question. I've taken the Cooper course (albeit a long time ago) and several others. Maybe I was in the bathroom at the time, but I've never gotten a good explanation on this re-set timing feature and how it should relate to up and downstream devices. We've always set ours at 60 seconds based on the fngineering concept of "we always done it that way".
If this is not the question, then ignore it. I'm not trying to hijack csuf's thread.