Yes, the data is stored in a database that can be accessed by other applications.
This feature is for situations when you make a decision to change the database for your Aware IM application (for example, from MySQL to SQL Server) AND you want to transfer your operational data from one database to another.
(Transferring configuration data is not a problem at all. Transferring operational data from one database to the other is at the moment rather tedious because you will have to export/import Aware IM databases manually. The utility will make this process easier).