Yeah that's the shaper side. It'll rough a tip from disc to frazzly thing a trough can handle. The tapper side is flat and quite useful.That's definitely more aggressive then the usual tip shapers/abrasives I have run across. That tool is something I would only use to emboss with. Based on the picture it looks like it would shred a tip if rubbed instead of pressed. I have zero experience with one, so I'll bow to your knowledge of it.
If I ever see one, I'll take a closer look. I tend not to fix things that aren't broken so I don't know if I'd stray from the typical pick I use now though.
Thanks for posting the picture