The filters, including the Remote IP column shown in the screenshot, can be used to filter your traffic based on the given criteria. 

For example, if you use a Remote IP filter with Contains and a value of 93.184.216.34, then in the Live Traffic session list, you will see only traffic coming from 93.184.216.34 (example.com). Note that the filters are simply Filtering the Live Traffic list - Fiddler still acts as a system proxy and captures everything that passes through it.