Hi Burr, yeah the image align is new for v2 and lets you do a kind of pick a reference distance and orientation in the image and map that to match with an existing object in your model.

That's for things like where you want to map your blueprint to match with portion of your model which is not aligned with the world axes.

Previous thread on that here:
http://moi3d.com/forum/index.php?webtag=MOI&msg=1982.9

- Michael