Someone else came up with the idea originally. I remember seeing the tool at Camp Perry on Commercial Row one year. It was arranged differently from the Hornady, but basically used something to attempt to correct bullet tipping after gauging.
The thing is, I expect that approach could fool you into making matters worse under some circumstances. I noticed the first time I got a Redding Competition Seater Die (.30-06 for my match Garand) that it made every round perfectly. This was with 168 grain SMK's and LC brass. The exception was when the case neck was unevenly thick. In that instance it would produce a round with runout error exactly equal to the error in neck thickness. In other words, the bullet was exactly in parallel with the case axis whether I could measure runout or not? Had I "corrected" that meaured error, the bullet would no longer be parallel with the case axis, but would be tipped. Now, which form of error is worse for accuracy, is hard to say without conducting some experiments. But if you want truly straight seating, you will likely have to uniformly turn your case necks or else sort out the uneven cases. That turned out to be about 80% of my last lot of Winchester .308 cases.