This is a bundle containing a Lexmark printer, an ink cartridge, a Playstation printer interface with Video Capture capabilities and a word processing Playstation software!
The name is EGWORD 2.0 (there exists two Saturn versions : one with EGWORD 1.0 and another one in a Keyboard bundle entitled EGWORD 1.02).
From what I understand, the CD contains cliparts from Koei games and allows you to use a virtual keyboard in order to create documents (pictures + text). Then you can either print your creations or save them onto the Playstation printer interface. Here, the Video Capture version has video input and output, allowing you to import and export movie contents. I guess you can save in-game videos from your PS1 and export them onto external screens to watch them. I'll have to try it when I have some time...
Please take a look to the regular version (without Video Capture) for additional pictures.