Since the exchange switch is now closed between 9 and 5, when the button is pressed again Q2 is energized. Q1 switches off due to the current which flows through Q2 collector, but the relay coil is still energized by Q2.
When the button is released Q2 switches off, while Q1 would back on 10 milliseconds later. But the relay coil is faster, so the circuit backs to the start condition. Therefore the circuit works as a mechanical bistable relay, but the relay backs off if you cut the power supply. That may be an useful feature, for example in the automotive field.