The project is a combined MacOS X Preference Pane and faceless background application (FBA) to receive and send Infrared signals via the Iguana Works USB IR Transceiver.
This can be used to receive signals from a typical IR Remote control (e.g. for a TV or VCR) and execute an arbitray action (e.g. open a file, run an Applescript, type some characters)
Once the information for a remote has been 'learned,' signals can be sent from the transceiver via an Applescript, letting your computer control other devices via IR. This can be used to replicate the functionality of a Tivo, turning on/off a TV/VCR and changing channels.