You can probably turn it off in the bios as well.
What does it do? It allows the CPU to directly write some types of data to the video card's local memory, rather than first transfering data to system memory and then from there to the video card. It causes stability problems because it requires very fast memory write timings across the AGP bus, something that is very difficult to achieve on some chipsets and motherboards.
Edit: I suppose it could cause sound stutters, because it could potentially interrupt a DMA memory transfer to the sound card.