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It will open in a popup window, meaning you don't have to navigate away from the content you're working on. Sweet. 

Functionality includes:

• Upload multiple files, including drag and drop from your local directory to the CMS
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• Create folders

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• Rename Rename files & folders
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• Delete files & folders
• Zip & / Unzip files
• Download files
• Folder Navigation up & down via breadcrumbs
• Delete
  • Files
  • Folders
• to your PC
• Cut / Copy / Paste
  • Files
  • Folders
• Move
  • Files
  • Folders
• Edit Images 
  • Crop, resize, flip, and more

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  name EditImageInCMSFileManager.mp4 width 640

  files & folders
• List and Thumbnail view modes
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• View File Info
  View ModesList
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  Thumbnails
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• Access to 3 Top level directories
  • Images
  • Documents
  • Theme

Take a quick look: 

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You can even edit images!  Crop, resize, flip, and more...