Seems to be a CD checker application, that can get header info from Saturn CDs, as well as having a "backup utility" and an "XBand Check". I wonder what it is stored on, considering that it can't be a cartridge if it does an XBAND check.
The more interesting thing is that it is being used to check the header of Monica no Shiro, an unreleased game. There's some footage up the thread too.
No, that just looks like a generic system tester app. There was a cart version for that too, which did similar things like running diagnostics, checking IP info, and sending comm port test data. drx dumped that a long time ago. Since this seems to be a newer version, it would make sense to be able to use it for newer hardware like the Xband.
Also the twitter post shows the IP info for Monica no Shiro and it only uses normal controllers, nothing else.