If you are asking about the Imax B6 then it can do much more. It can charge and discharge lipo, life, li-ion, nimh, nicd, pb batteries. Also you can set the amps you want to charge/discharge with. You also can run cycles of charging, discharging, and monitor the voltages/amps during the process. You can charge some types to store level. You can balance, and with an additional sensor you can stop on overheat of the battery. And then some.
But as far as an average airsofter is concerned, a simple balance charger like a B3 is perfectly enough for a lipo. You plug it in, and it charges the battery for the next game.