Well, that's pretty simple alright. Looks like it just runs a handful of wires from the connector through LEDs, and then I presume out to the pass-through connector. As before, I think this is probably a simple disk-activity monitor, though why you would need that I don't know.
Tend to agree. I don't think its doing anything smarter like copy protection as those types of units also displayed the "track in use" as well. Could it also be an external DF0 enabler as well? So you can run DF0 externally?