Clicking on that > sign will select that radio. Once you start typing in the radio bar and you realize you selected the wrong radio w/ the key combination you can change to the radio you want by clicking the > next to it.
You can tune any of the 4 text radios (1-4) to any channel. I use radio 1 for country channel (channel 2), radio 2 for global, radio 3 for squad (channel 4), and radio 4 for private msgs.