It's called a Muzzle Boresite Device, and it is used to ensure that all weapon systems are adjusted to hit the same point of aim.
The same system is still used today for armored vehicles...like the M1 tank. Each caliber of weapon has it's own Boresite Device, and each weapon gets boresited separately as part of the system.
Here is a link to a portion of the manual that describes the process for an M1 Tank:
http://www.globalsecurity.org/military/library/policy/army/fm/17-12-7/ch11.htmThe officer in the the picture is probably the pilot of that aircraft, I know I wouldn't trust someone else to get the boresite correct for my ride...not if MY life was depending on it.
First a reference target panel is placed at a known distance from the weapon, the MBD is inserted into the muzzle of the weapon, and while looking thru the device at the target, the commander or pilot directs the other crew members to make adjustments to the weapon so that the muzzle end of the weapon is aimed at a known point on the boresite target panel. After each of the muzzles is properly aimed at the reference target, the sight or sights in the turret or cockpit are adjusted so that it or they are also looking at the same point of aim. Each individual gun or weapon must be adjusted separately without disturbing the others.
Corrections are made by making adjustments to the weapon mounting cradle at the breech end of the weapon, while ensuring that the boresite device remains pointed precisely at the target aiming point. Making adjustments is a finicky process. The jack stands in the picture are used to maintain the aircraft in a normal level-flight attitude in the pitch, roll, and yaw axes. An error in cant (roll axis) will throw off the point of impact in both elevation and deflection.
After adjusting all the weapons to the same point of aim, the sight or sights are adjusted or "referred" to the same point of aim. The final step is to fire each of the weapons to confirm that the point of aim is in fact the same as the point of impact. Since machine guns are an "area fire" weapon, some dispersion is normal and will be expected. As long as all rounds fired land within the expected dispersion area, the weapon is considered "boresited", and the data used to make corrections will be recorded for future reference and maintenance purposes.
CptA