The WOW Thing is designed to improve the sound of your speakers by making your speakers sound taller and wider than they are. Run sound output through the WOW Thing and into your speakers and you are supposed to hear a definite improvement.
A friend of mine got a new computer system recently that included a set of Harmon Kardon HK-195 speakers. When she played something through them I said "wow," I had never heard anything that good come out of a computer speaker. Judging by its name the WOW Thing is aiming for a similar response.