I didn't run the app, I've looked a bit into the sources though, out of curiosity.
I would not run the provided exe and I don't know if it's related or not to this (rather messy) source code (a lot of functions are not called by any code, names like button7_Click)
It gets with NuGet BouncyCastle, EF, SQLite, JSON but doesn't seem to use them at all. The only package used is some special ListView.
It looks in the Windows registry for all the wallets derived from Bitcoin Core (searching for the reg value
strDataDir).
It seems to be trying to copy
the whole datadir to USB in order to make it, you know, portable
It doesn't seem to start any wallet. One arrow copies blockchain to USB (and creates some strange bat and sh files, trying to run an bitcoin-qt-like exe that doesn't seem to be copied), another arrow copies the blockchain back to HDD.
The encryption is also not called, for example. So the app is far from what's advertised.
I hope that I've fed your curiosity. For me it was simply wasted time.