It is obviously exclusive to Lumia devices and perhaps needs “Amber update” as Lumias running current version of WP8 are not able to install this. But, the description says it all,
This app helps you to share your videos quickly and easily with your friends, and works for all videos shot on Nokia Lumia phones with Windows Phone 8. Simply select the video in the Photos app and share, or upload after capturing and trimming with the Nokia Video Trimmer through share option. Share your video over Wi-Fi or a mobile data connection, but be sure to check your network operator’s data charges first. Exclusively for Nokia Lumia
Nokia has also updated “Transfer my Data” application, which is used for copying contacts from almost any phone (Symbian, Android, iOS, BlackBerry, Windows Phone and others) to Lumia devices using Bluetooth.
What it brings is expanded compatibility for SD card import of contacts, Usability, performance and localization improvements and Bug fixes.
Thanks Mister2 for the Tip. Cheers!!