BodiLizer is an instrument body equalizer. The purpose is to bring back life to the sound from e.g. guitar pickups.
Under saddle guitar pickups in particular suffer from a very "dead" sound, the reason for this is simply put that while the under saddle pickup picks the string vibration quite well and is also quite robust to outside noise and acoustic feedback, it does not manage to provide for the box sound at all.
The BodiLizer is a VST plugin that filters the signal from the guitar pickup so that it sounds more like a it is picked up with a real microphone.
The benefit of using the BodiLizer instead of a real microphone in a studio is that it is much more easy to use the built in pickup in the guitar, also the guitarist does not need to sit pinned down to a chair during the recording session.
In a live situation the benefit is obvious as the built in guitar pickup (especially if it is of under saddle type) is much more robust to acoustic feedback than an outside mic is, on top of this the freedom of movement for the guitarist becomes much improved. It is possible to use the BodiLizer with other guitar pickups and also with electric guitars if one wish to give the electric guitar an acoustic touch.