Hi Jim
not exactly - but yes kinda
Its primary function is to get rid of coloured 'tails' at the start and end of a white (or multi coloured) trace it does this by slowing down the rise time under modulation of the faster lasers in your projector to match the rise time of the slowest - if we ignore 445 for a mo - traditionally when the blanking signal turns on a red diode would be on instantly (or as good as) then the green would come up then blue. So a white line (no relation tio Titanic) would start off red then change to yellow before finally getting to white. You can get similar effects at the end of the line too as the lasers turn off - dpss blue seems in my tests to dwell the longest - so you adjust the red and green to draw them out as much as the blue so both ends of the scan are clean.
When testing a crude version of this circuit about 18 months ago the results in my RGB were stunning - everything just looked 'better' almost impossible to say why - it just did.
In addition to the timing functions this circuit also has a gain control to re-juvinate the signal that will be diminshed by the delay circuit and there is also a threshold control allowing one to match the strting point of the lasers to maximise their range in modulation.
I hope thats not too long winded and makes sense
Rob