If you embed the calendar on any page, then click through to an event, the [Calendar] button will take you "back" to the calendar page in which it was embedded via the shortcode.
For example, I have a three event, posterboard calendar on the home page of my site. If a visitor clicks to an event they get the single event. If they click on the [Calendar] button they go back to the home page.
This is a bit odd because they are probably expecting to go to the full calendar page. I would like to request the ability to point that button to the main calendar page, for a future release.