Hi again,
I'm not familiar with that particular bit of equipment but it looks like an early stereo adapter that was sold before all FM receivers had the demux and second audio channel built in. The composite signal from the discriminator tap went in the MPX jack and the L & R audio went to an external amp. BTW, some top of the line FM tuners came with a composite output jack (tap) in anticipation of stereo which made it's big appearance on 1 October 1969.