The small application allows you to reload the handling.cfg file while the game is running, so perfecting your handling will much faster and easier without exiting the game the entire time.
To use it, just click on "Inject Code" and every time you change something in the file click "Reload Handling.cfg"
(There won't be any success messages, only error messages (if any) that will be displayed.)
Certain things like the suspension needs the vehicle to respawn to take effect.