I suspect theat the rear cap unscrews, you then connect the m42 thread lens you want to use to the lighmeter, take the reading making a note of the settings, replace the lens on the camera and set aperture/shutter speed and take picture. Then realise that while you've been faffing about the light has changed and you have to start all over again
As awesome as you are Raggly one, that doesn't sound uber likely.
Looks like a shoe mount lightmeter that you just read and set the camera.
It looks like the needle....in the window (guesses) indicates the app to use based on the ISO and shutter speed selected via the two rotatable rings.
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