Enabling this effect allows to add some vintage look to a result video. The software adds artifacts to each frame in exported video to emulate old movie look. Use this effect in combination with the Black & White effect to create nice old fashion style to time-lapse video.
Though software adds random artifacts it is possible to adjust the intensity of two kind of artifcats by using the sliders.
This choice of just a simple illustration of effect applied to the image in the time lapse software.
Note: this effect is available in the free version of Time-Lapse Tool.