Talend Studio allows you to switch between branches of a project without the need of restarting your Studio.
Once you open a project having different branches or tags, you can switch between the trunk/master and any of the existing branches or tags and between different branches or tags.
The switch operation may take some time. Wait until the operation is finalized. Then, the Repository tree view switches to show the project items of the selected branch. You can read the directory of the active branch on the top bar of the Repository view.