There is a tutorial built into Powerstrip that tells you all about it. Basically it allows you to make your Graphics Processing Unit (GPU) and Memory Clock (RAM) run faster.
Take note that you only really want to do this if you've got an application that is just not putting out enough frames per second (FPS).
Try boosting your GPU up by 5MHz and your RAM up by 2MHz intervals...play a game or run a benchmark (check for "artifacts" in the video), if everything looks ok, bump up another few MHZ. Your RAM will top out a lot faster than your GPU so just be conscious not to push things too far.
So check out the tutorial and any readme files that are in the Powerstrip directory. Also keep in mind the Alienware guys would be more than happy to help you out over the phone lines via the 1-800 phone lines or their MIRC channels. Enjoy!