Spectral Shaper is an FFT based 4096 bands equalizer-like effect, which affects only magnitudes (i.e. no phase change).
The purpose of this plugin is the ability to capture a preset from another wave file and apply it to your sample. That is, to apply a 4096 bands equalizer setting from a captured sample to yours. You are able to draw / modify presets with pencil, smoothing or sharpening tools.