Doesn't look like it's been added to their website yet.
I could think of a few uses for this.
1. Building Superguns. Instead of connecting to your TV, you could connect to your monitor or HDTV. The signal quality degradation should be less than a traditional Supergun that outputs to a Composite or S-Video NTSC signal.
2. Replacing monitors. If the price is right, this could much cheaper and easier than replacing a monitor in a cab with an arcade monitor. You just buy this thing and stick any old PC monitor you can find in it's place.
3. Playing console games on your old MAME cab with a pc monitor. There are already a lot of Component to VGA boxes out there that might be cheaper though.