Tool changes have to be done manually. Basically you design a tool path for each tool. Once that tool path is finished, you manually swap out the tool while the machine is on (and steppers are locked in place), then load the next tool path (rezero your z-axis) and continue your carve.
So for instance on that badge, you would probably start with a v-carve bit for the detail on the badge. Once all the face detail is done the machine would stop and return to your original home point. You would unlock the collet, insert an end mill, load a profile tool path (to cut it out). Then you re-zero with your probe and start it.