Sounds like it's meant to be a bus compressor. That's where you'd typically use 2 or more comps in series, the first to shave peaks, the second for "glue". Might work on a vocal bus, too. I'd try it on a reverb bus as well. Maybe on a mellow bass track. Listen for a thicker, fatter, more even sound with softer transients.
Just guessing, for now. Until I get my interface fixed I can only speculate.