This is Executor from OffiX --- part of desktop package with 
DND Drag & Drop protocol support.

Execute is a simple tool that work as a wrapper to non-X applications. It
redirects stdout/stderr of application to an X window. From that window the
user is able to abort the running program, to quit completely or to restart
the application.

To run Execute do: execute application args_to_application

WWW: http://leb.net/OffiX/