I guess i have understood your question well...you want to reinitialize all your front panel objects to their default values on the particular event...
for that you can use the invoke node method for the VI Reinitializa all to default. Provide the VI reference of the VI whose front panel you want to reinitialise and it will give the default values to all objects on the FP of that VI. No explicitly default values needs to be written to each front panel object.
Attached Screenshot may clear it...

-Certified LabVIEW Developer