This VB-compiled tool serves just to test which version of Max was used to create the saved Max file. Since 3DSMax doesn't do a good job at writing its version in the file's properties - I use this tool to find out what version it was created in so I can go back to the proper 3DSMax to edit the file.
If you have multiple versions of Max installed and want to know what version you used on an old project - use this tool to find out.