What does the fountain of youth do?

The in game text says:

Turn back your level 10+ Dragons back into babies...but keep their level! For years our wizards have been trying to find a way to reverse the effects of aging, and finally they have done it! Unfortunately it only seems to work on dragons. Oh well. I'm sure that you'll be able to find some use for it.

Does this mean that I can turn a level 10 dragon into a baby so that I can start leveling it again? I'm not aware of another way to level a dragon past 10, but the tip itself refers to dragons "10+" so I'm thinking there is a way - and maybe this is it. It's a lot of coin for me at this point, so I want to be sure before I invest.

Dragons keep their levels, they are only visually reduced to babies. They will also level normally after being made into babies. They will never return to adult form unless you bring them back to the Fountain of Youth again.

Dragons that could breed before being returned to baby form can breed after they're baby-ified as well, so you can breed two level 4+ "babies" after using the fountain of youth.

Dragons can be made level 10+ through use of the Elemental Shrines which you start unlocking at level 18. it's entirely unrelated to the fountain of youth.

The dragon must be at least level 10 to be "baby-fied". The dragon can not be baby-fied until it has reached level 10 otherwise it is completely impossible to turn a dragon back into a youth. The dragon will looks as if it is in it's juvenile stage at 5 hours into the 12 hour process.