This application stays in the background doing nothing. But if you press a key combination which matches one of the file names in the folders of the application, it will do something.
The text files in the AppleScripts folder will be executed as Applescripts. It is useful, if you want to quickly turn your Mac to sleep.
The items in the Applications folder can be launched. It works even for folders or documents.
Pictures and plain Textfiles in the Clipboard folder are copied to the clipboard.
Shell scripts are executed from the ShellScripts folder.
The application writes a lot of stuff to the console which you can watch for error messages. Just launch the console application from the utilities folder and read, but don't be scared: far over 90% of this is to be ignored.