The purpose of override explorer is to simplify understanding what overrides exist in a management group. It provides two views:

Type Based - This view shows types for that have rules/monitors/discoveries for which overrides were created.

Computer Based - This is in essence a resultant set of overrides that apply to a computer. You can also drill in and see what overrides are applied to various computer components such as OS, Databases, Websites.

Except of viewing the overrides, you can also do the following by right clicking on an override:

1 - Move the override to a different MP. This is usefull if in the past you saved overrides to the "Default Management pack"

2 - Change the target of the override. If you created an override to lets say disable a monitor for all SQL 2005 Databases and want to change it to only SQL 2005 Databases in a particular group, you can do it.

3 - Delete an override.  

The link to the utility is at the bottom of this post.

 This posting is provided "AS IS" with no warranties, and confers no rights.
Use of included utilities are subject to the terms specified at
http://www.microsoft.com/info/cpyright.htm