What this script do:
This script allow you to orient object along the edge.
Works both for Edit Poly and Editable Poly

How to use it:
Take an Editable Poly object or apply Edit Poly modifier. Select one edge. Call the script.
Object will be aligned to a closest axis along the edge using face normals almost the same way as Align to Edge works in Unwrap UVW but in 3d.