At least, that's part of what it does. Capable of tracking and recording your driving--and your car is going to be a 2014 Cayman, as that's the car this app is built to promote--the app can give you "precision driving challenges," presumably to be conducted in a safe, closed course environment. Example scenes show the Cayman navigating a slalom and coming to a stop inside a coned-off box.
It looks like the app will also focus on the social side of driving, allowing you to share your achievements and precision driving skills through the app. You can also share pics and follow the conversation at #CaymanCode.
The app also shares a theme with the upcoming King of the Curve TV show on Speed. The Porsche-sponsored show will pit Porsche fans, pro drivers, and celebrities against each other in a series of challenges. The show airs Monday May 12 at 11:00 a.m. on Speed.