Hey there. The 'reset' message is in error, it was never intended for Onslaught reputation to be reset.
One full rank-up is all we get.
[quote]Lord Shaxx's vendor in the Hall of Champions was not meant to be reset and any text stating a reset is available is a bug. We investigated adding resets, but it wasn't feasible at this time.[/quote]
https://www.bungie.net/en/Forums/Post/263852368?sort=0&page=0
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Ouch !! Thank you.