I personally do not have a use for this application, but I had a couple of emails from people so far that say they love having this indicator icon on their BlackBerry home screen.
Get a quick overview on your BlackBerry® device’s missed calls status.
Missed calls Icon Indicator shows missed calls number on missed call icon on device home screen.
* Missed calls number on application icon on home screen
* Missed calls number automatic updated
* Clicking application icon will automatically launch the phone log for view of missed calls.