It's two LFO/VCOs and they can cross modulate for some really wild effects. It does go into audio rates and has an exponential input, but it doesn't stay in tune over a very wide range of octaves. You can use it for sounds that span over a single octave, like Tom-toms.
Build quality is good. The knobs wiggle a little bit but not too bad. The metal plate is very robust. The push buttons feel solid and don't get stuck.
There are lots of ways to use this module, it's more than an LFO.