Yep, that toolk is for use on a Mk1 or 2 type telescope. But to be really honest and truthful and doing a bit of straight talking which I prefer and I won't sit on the fence either. That tool is an absolute load of crap. The biggest waste of space and rations ever designed. The only sensible use is to give it to someone you don't like as a fishing weight. Or, if you have a Mk1 or 2 telescope, stick it in the box to look pretty. But never, ever use it unless a) you have three hands and b) you're trying to impress your kids. You'll impress them but noone else!
Now for the good points......... I have been using them since the early 60's and if I do come across something good to say about them, I'll come back to you all