This new plugin was made to simplify the distribution and the installation of new software updates or patches for all the "Vik" Extensions.
However, your current version of the extension may not yet support this plugin. As of 2017, we are upgrading all the "Vik" Extensions to support this integration. Check the change-log of your extension to see if the plugin VikUpdater is already supported.
Just install the plugin as a standard Joomla extension and make sure to enable it.