What does the Animation and Rigging Toolkit suppose to do exactly?

I’m a bit confused as to what Animation and Rigging Toolkit is suppose to do. I understand that you can create “placeholder” characters with it, and use it for prototyping to test out game-play and animation. But how does it work with final character art? Can you export the skeleton to your animation package for skinning to that rig? Or can you import your mesh and skin it directly through the toolkit? Can you also create animation with the kit?

I’ve watched some of the videos, but I have not seen anything other than creating rigs and morphing the mannequin. Is I can’t find the documentation about it either.