So, the mystery has been resolved!
The newest Psiloc application is not a touch screen,
it has nothing to do with a coverflow,
neither is it a new version of S60.
No more, no less, it is basically THIS!

The following guesses have won a free license (You will receive one by SMS).

Connection mgr, to avoid a/p selection constantly
So it must be a download accl manager or a hi-fi widget manager or home screen.
Wifi & connection manager
I dunno but wanna have it
It will be an access point manager with auto-ap selection.
Wifi & connection manager
An internet-booster
WiFi/GSM roaming connection manager and hotspot configurator!
An electronic balance app that gives you $ when you lose weight
Oh! Psiloc is porting Steve Jobs to symbian phones!
One access Point to rule them all
I figured it out!!!!... Its a time machine
The name "C" itself is a hint ! :)
Switch between data package and wifi automatically
A toaster? Heh I think it's seemless access point switching.
Priority connection management between wifi and gprs connections
Access point management. Allowing seamless switching and automatic wifi hotspot usage. Also known as ap groups.