When you do that, the following window should pop up:
Click OK
After you click OK the screen MAY look something like this:
You can check out the Live Bookmarks from the drop down menu in the tab:
Or you can see them from the Bookmarks drop down menu:
That's it, you are all done and you Never have to do that again. When I make changes to my website those bookmarks will automatically update and you will know at a glance if there are any new Nola pics /movies, new podcasts or lazy feeds, or any other new content I may ad as time goes by.