en.wikipedia.org/wiki/Wingtip_deviceIn short, reduces drag created by wingtip vortices.
Almost all winglets on airplane wings point up, i.e. in the same direction as the convex side of the airfoil. Interestingly these point in the opposite direction, also pointing up but the convex side is on the bottom of the tail wing. At the speeds we're travelling I'm skeptical.
In general I like the flat tail wing better than the Maliko tail which tended to dance around through chop. The flat tail wing actually tracks better (I have the wide version, haven't tried the narrow). I'd certainly try the winglet version but would like to see those winglets pointing downwards.
The most interesting thing about that pic is where the mast is mounted to the board, this just looks right.