Log in to your Panopto web interface at butler.hosted.panopto.com and select the session in which you will be taking notes. This will open the session in the Panopto viewer. Depending on the streams being captured the notes field will be on the left of the screen or under the primary video window.
Click on the Notes link on the left hand side. This expands the notes area to the right.
To start entering notes click in the field next to Notes and start typing. The second you begin to type is the second that will be time stamped in the viewer.
When you hit Enter/Return the note will be submitted to the field above where you are typing.
To edit or delete a submitted note click on the note you wish to change and either click edit or delete. Editing the note will bring the submitted note back into the initial field and allow you to change the submitted note. Editing a note will not change the initially time stamp of the note. Deleting the note will remove it entirely from all fields. Be aware that hitting delete once will remove the note.