I used it for 14 days once, to try it out. From what I can recall, it wasn't ever used as a plugin within MC, per se. It acted as a sound device for the whole system, or somehow acted as a DSP for the sound card driver. In other words, I didn't think that it could be used to re-encode files just to alter all sounds going out through the sound card (including Windows system sounds, etc). I could have missed something of course, but I don't think I did.
-Jon