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That is an interesting item.
If it is part of a prjector it will be an early colour TV projector. It would have used three projection tubes (R, G and B)and combined the output to give a full colour picture on the screen.
However these cubes were also used in early colour TV cameras and in this case the cube actually did the colour splitting to have the separated colours focused onto monochrome vidicons or plumbicons. Back in 1969 I was looking for one of these devices to make a three vidicon colour TV camera but could not justify the expense.
If your cube displays all sorts of colour effects it is possibly a filter type and used three high intensity monochrome projection tubes that combined the output in the same way from R,G and B signals on the monochrome projectors to give a colour picture.
Barry
PS Its usefulness against modern components would be rather low as the type of result obtained were mediocre compared to hi-res digital imaging like we use today.
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