I've just had a look at it.
It seems to be another texturebaker-script (one already comes with blender!).
You can convert procedural textures to mappings with it, allowing realtime-use afterwards.
But it doesn't seem to create lightmaps. You still would have to use OCTTOOLS or another lightmapper after you're done baking your textures and exporting to a lightmapper-prog.
There is a script that bakes procedural textures, but that is separate from these lightmap scripts. I am testing them extensively now, and have not been able to quite get them to work, though I am painfully close.
The script that comes built into to blender takes the radiosity info in blender and moves to it your UV map. Radiosity in blender is stored as vertex colors, so it needs to be translated.
The second script from alienhelpdesk takes lamp information and turns it into a light map perserving uvs, something similar to OCTTools.
I am having problems with both, but I hope to have something working, and when I do, I'll post it here with a howto.
that would be very kind if you need help and you think i can support you, please drop a pm or something like that! i would like to do everything to get blender lightmaps into irrlicht!!