If it's like the EVGA Precision OSD which I would assume it is because before the Precision OSD Utility was available it was a Rivatuner extension that Precision was using.
As far as I know it's a simple Overlay program, things you can show are:
Pretty simple, shows any of the following that you want:
FPS (includes rendering method DX9 or DX10)
GPU Speed, Mem Speed, Shader Speed
GPU Temp
might be a couple I missed. I generally run temp and FPS.
It does show in screenshots from what I've seen, but at least on default is for games/3d apps only, i.e. say Left 4 Dead, or a game benchmark. Though with Vista x64 I've seen some interesting things, like not being able to use the Steam overlay (shift + tab iirc) when OSD is running. But aside from that it's really simple, I do like it better than the FRAPS FPS overlay for more general use and monitoring.