It's the same as the BBE SoundMax Pro app... This one probably has settings for Westone's IEMs. JVC has an app through BBE as well. The app uses different nobs to boost (or reduce) certain parts of the spectrum. Dale (from Aurisonics) explained the app to me, when I met him a little while back, and I paraphrase:
The app is supposed to restore certain parts of music that have been lost due to compression
This allows you to add more power to the bass or air to the highs and restore some vocal dynamics. In some ways, it can increase the soundstage (perceived soundstage) as well. Dale stated the app wasn't an EQ, but it feels and works like one. I'm not sure if this is done using digital signal processing (DSP) or through EQ for certain though.
Edited by tinyman392 - 1/11/14 at 4:02pm