It appears to be a cut-down version of Mimic, or at least uses Mimic DMC files. I would suggest looking at a couple of Mimic tutorials.

But basically, load the sound file you want to use, load the DMC file for the character you are using and to get anything close to decent results, in the bottom box, type in the speech, using phonetic spelling (ie spell it the way it sounds). Have a took at the text files that come the speech samples, to get an idea of how this works. I'm still figuring this out myself

The Lipsync plugin comes with a selection of DMC files for various DAZ characters. You can download the Mimic DMC file for several other DAZ characters, like Sadie and AikoToon, from their page at DAZ. You can find DNC files for other characters in the Renderosity and 3DCommune free sections. LittleDragon has created DMC files for many characters and his Furrete & Furraldo characters come with them, I believe.