It creates evenly distributed particles along each axis inside of a geometry volume. It can use object texture or have its own color. Objects must have a texture map property created for texture to work.
I tried using it on some character models and I got interesting results. On animated characters it seams to be a little unstable. Sometimes it crashes softimage, sometimes not. Also it slows down down as you start increasing number of particles per axis.
I am not sure if someone already posted something like this, but it was fun to do and it was nice learning experience.
In archive there is compound and a simple test scene. It is a SI 2010 scene.
This is a result of that scene:
