What does it do? 

The AOE Cache Management extensions, gives an overview of which TYPO3 Caches is in place.

You have a list of all cache registered under $GLOBALS['TYPO3_CONF_VARS']['SYS']['caching']['cacheConfigurations'], and you will be able to look into the details of the cache type and to flush the cache individually if needed.

The cache manager also includes a re-caching hook for usage with the “Crawler” extension.