Bluetooh in WP 8.1 Action Center, what's it all about?

Bluetooth in the Action Center is totally useless, at least from my 920.

It looks like all I can do is toggle it on and off, but even that is an illusion.

I toggle it on, go to the "real" bluetooth settings, and it's still off. So in there, I turn it on, and the bluetooth radio works, but I have to pair it again with my devices. Ok I do that, now it works. Back in the Action Center, I toggle it off, but it's still on.

Even worse, is that ALL it's meant to do? Switch on and off? You'd think that if I tapped on the BT icon in Action Center, it'd show my devices or take me into the settings, but no.