This feature was introduced with version 0.9.2. It will let you swiftly locate unconverted bio-clumps from aliens that turn into specific types. It also has a few other select items (like galactic gems) that you can search for.
The GUI is divided into two different lists. The left-hand side list is where you select what items you want to search for, and the right-hand side list is where the results of the search appear.