Magnetic reconnection is clearly at work in the solar corona reorganizing a
nd simplifying the magnetic field. It has also been hypothesized that this
reorganization process somehow supplies the energy heating the corona. We p
ropose a quantitative model relating the topological role (simplification)
and the energetic role (heating) of magnetic reconnection. This model is us
ed to analyze multi-wavelength observations of an X-ray bright point. In th
e model, motion of photospheric sources drives reconnection of coronal flux
. If reconnection occurs only sporadically then energy is stored in the cor
onal field, and released by topological reconnection. We simulate the dynam
ical response of the plasma to such an energy release, and translate this i
nto predicted observational signatures. The resulting predictions are diffi
cult to reconcile with the observations. This suggests that while reconnect
ion is important in the corona, energy dissipation is governed by other fac
tors, not all of which relate to the topology of the field.