The Serial/Modem Driver is built into Black Night; you don't need to drop anything onto your System Folder. You can use the Serial/Modem Driver to control a modem, connect to a data switch, PAD or Terminal Server, or any other device that supports the RS232 interface.
For an explanation of the Serial/Modem Driver settings, you should turn on Balloon Help and browse the "Serial/Modem Driver Settings" dialog box. However, this Connection Tool also has a number of unique features that don't relate to settings and these include automatic "Port in Use" detection, "CTS Assertion" detection, and a "don't hack the hardware" policy.
Port in Use Detection
The Serial/Modem Driver will automatically detect if the Serial Port is already in use by another application. Sometimes it really is in use, and sometimes it just got left open, perhaps by a system crash or some fax software. If the port is found open, then the Serial/Modem Driver will ask whether you want to close it or not.
CTS Assertion Detection
Sometime you'll select Hardware Handshaking and you'll wish you hadn't. If your cable doesn't support Hardware Handshaking, then some Macintosh's will freeze when you open a connection. The Serial/Modem Driver detects this condition, and warns you that it turned Hardware Handshaking off.