Greetings-I used a Nino312 for about 3.5 years. It has been a while since I looked at the manual, but from what I recall you have two reset options: Hard or soft.
Hard will wipe the memory and return it to the ship from factory condition.
Soft will basically reset the device but all the memory stays intact.
I found that often the unit wouldn't respond to pressing the power button (to turn off the unit) so I would have to do a soft reset by pressing the reset button with a paper clip. Or similiarly there was a "Reset" program that Philips provided in the start menu that would accomplish the same thing.
Hard reset is the more drastic option. From what I recall it will wipe the ram clean. That operation was something like holding in the reset button and pressing the power button at the same time.
It sounds like you are trying to do a hard reset since you are removing the batteries. But if you don't remove the backup battery as well as the main batteries, your memory will not be erased. Once you uplug the ac adapter and let it sit for a few minutes, you will have hard reset your device.
I don't recall ever reading about removing the batteries to do a soft reset, and I never did that.
Hope that helps.
Regards
Dave