Pink bar is pivoted on the base.
The groove profile of blue slider ensures that the upper pink pin moves clockwise along heart-shaped groove when the blue button is pushed and released.
Pay attention to the followings (the letters on the sketch denote corners of the profiles):
a’ is on the right of a
b’ is on the left of b
c’ is on the right of c
d’ is on the left of d
See related videos:
• How a Click Pen Works
http://www.makerbothy.com/?page_id=220
See another mechanism of the same working principle “Push-push button 1”:
• Push-push button 1a
STEP files of this video:
http://www.mediafire.com/download/y97...
Inventor files:
http://www.mediafire.com/download/ux8...