This is a small but extremely useful tool.
I use it everyday and it saves me a lot of trouble and number of clicks.
It basically shortcuts the access to the “Link Info” options of the Hierarchy Panel.
Instead of going there to check/uncheck all the axes one by one, you can quickly lock/unlock everything,
or just Position, Rotation or Scale axes.
I almost never use the freeze option of max, simply because too many people are used to unfreeze all, with the right click option.
This is a real problem when you don’t want someone to change the transform of an object even accidentally, especially a camera, a skinned mesh or some rigging pieces.
With this method, you can freeze an object, but you still can select it, and so you can access the other parameters, like the modifiers…etc
And nobody can unfreeze it accidentally, unless you really want to unlock it, by running this tool or go uncheck the “Link Info” options.