Well, no special need for now. I wanted to use it back when the problem was present, that the splitter produced files, that did not work well with players using ffmpeg (VLC, e.g.). I thought that this might help. But -though I don't see any desperate need for it now- what was it originally intended to be used for?
As with any previous version, there are two lists: Encoders / decoders (left) and Prefferred codecs (right). No matter what I selected, I never saw an entry after Chosen Codes. Or any available codec in the list Encoders / decores, if Show filters for current file format was enabled. On the other hand I use the Video Splitter for only TS and MKV files, so maybe that feature is not intended for users like me at all . (: