Flashing a new rootfs image on your device will reset the device back to factory defaults and remove all data except those on the (internal and uSD) memory card: preferences, bookmarks, installed applications, with a single exception that any previously-set lock code will be kept and not reset to the factory-default of "12345". So basically flashing a rootfs fiasco image will keep your /home/user and MyDocs data (first boot will wipe /home/opt though). Flashing a EMMC fiasco image will wipe your complete eMMC internal memory card, thus resetting /home and MyDocs to whatever is in the image.