Good question. You are correct. It allows one device to mirror the status of another device.
I use it to mirror real devices into virtual devices.
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The built in mirror app allows only light switches to be mirrored.
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Phuc Tran's Device Mirror App added onto that by allowing other devices to be mirrored. i.e. Motion sensors, contact sensors, etc... But only the single motion attribute for motion sensors, or the single contact attribute for contact sensors.
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Device Mirror Plus builds on this by allowing multiple attributes for a single sensor to be mirrored.
For example: A motion sensor that is also a temperature, humidity, and lux sensor will mirror all of these attributes into a virtual device set with the virtual omni sensor driver.