Looks like an improved version of a rotating ball valve. Synchronous motor to turn the central disk section around at a contstant rate. Depending upon the how the central plug is drilled, it can direct flow into one or more outlets at a time. I am a bit concerned about the corrosion protection for the synchronous motor (it would be really nice to be able to mount the small version of the valve inside the hood, but I am worried about salt spray).
I already have pipe outlets installed in my rockwork, but they are now fed by powerheads connected to the outlets by flexible tubing. The powerheads hide behind the rockwork, and are controlled by a wavemeker. The problem is that it is a bit of a pain to access the powerheads for cleaning. If I could use a device like this, with a small external bump inside the hood, I could have easy access to the pump, but not have to run a bunch of new plumbing.