The plugin can be used in multiple ways:
1. Bring in ideas into your DAW. As Seth said you can drag and drop to retrieve all 4 tracks into the DAW or drag in the idea itself from IdeaSpace to get a mix.
2. Transfer data from any DAW to the Momentum Cloud and thereby any connected devices running the Momentum app, or even another DAW on a different PC. In SONAR for example you can do this by dragging audio clips or content from the browser to the plugin.
3. An advanced use is to capture audio in real time from any tap point in the signal flow. For example you could patch the plugin on an aux track or a bus or even place it inside an effects bin to "eavesdrop" on the audio data at any tap point in the signal flow. You capture audio in the plugin by recording it, exactly how you would record it in the standalone app, except that the audio source is from the DAW rather than a hardware input in this case.
4. Turn on Timeline Sync mode in the plugin and have it lock to the transport position in the DAW. This can be useful if you want to sync an idea in the plugin to a complex multi-track project in the DAW
5. Use it like a cloud based audio clipboard to quickly transfer audio from any DAW or mobile device to another device or DAW!
Besides the plugin, all flavors of the app (iOS, Android, Mac and PC) will see edits immediately since data is synced with the Momentum Cloud if you are online.