It's a very simplistic program that shrinks the size of .jpg files.
Could be useful for people wanting to email pictures (now more then ever with 5mp and higher cameras becoming common). Could also be bennifical for web developers wanting to shrink the size of .jpg
can be found at http://www.jdmcox.com/ and is listed in other apps.
The source code is also found on the page, but it doesn't state one way or the other if it's open source.
If you want to optimize .png files, try pngcrush.
http://pmt.sourceforge.net/pngcrush/
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