It's for recording animation, for characters and other things. So you could possess a character head, hands and if you have additonal trackers also feet or other body parts and record that.
There is some documentation here (note there are also subpages in that wiki)
Information about the Scene Animation tab in the Main UI
hub.virtamate.com
Besides the VaM build-in system there is also the Timeline plugin (by AcidBubbles), which is better because it can also animate things like morphs and is generally just a lot better.