You mean those machines with the scales and in the middle it has the "fat burner" range for age?
My understanding is that cardio burns muscles more so than fat. Ideally, you'll want to max it at 60-65% which is above the "fat burner" range, but yet the problem with that is you're working pretty hard and losing muscle as well as fat.
The assumption, which is false I believe or at least not proven, is that if you're in the 40%-50% range, you'll burn more fat since you're not working your muscles as hard. I forgot the whole detail of it and it's been a while. I'm pretty positive Karky has it right.