It does absolutely nothing except have a microphone, speaker, tilt sensor and a gsm SIM card in it.
It can?t and doesn?t record anything. If you have a crash the tilt sensor trigger the gsm SIM card to ping it?s location to whoever the company is BMW use to assist and then your button starts shouting at you asking if you?re ok.
It doesn?t have GPS or anything similar built into it, but if your phone is paired to your TFT then it can use that to activate a more precise location I believe. It certainly does when I may or may not have tested it off road on a demo GS with the BMW Navigator connected.