This array has 3 rows, 4 columns, and 5 pages.
Try to visualize it in three dimensions:
The colon, : operator in this context by itself selects all of a specified dimension. Then M(2,:,:) selects row 2, all columns, all pages:
M(:,2,:) selects column 2, all rows, all pages:
M(:,:,2) selects page 2, all rows, all columns: