It's shows current Wi-Fi connection and only the Wi-Fi access points which you saved password yet. You can choose Wi-Fi access point easily because Wi-Fi access points which unrelated for you (= you didn't save the password yet) are not displayed.
Each Wi-Fi access point can be recognized by a color of LED.
You can see LED color easier than you read network name.
The circle with a color on the right side of a screen shot is LED.
The color of LED is customizable.
In addition, there is a function of Wi-Fi ON/OFF switch.
This application was tested by following environment.
*Android 3.1 (docomo L-06C)
*Android 4.2.2 (docomo F-06E)