That doesn't look like something I would let any of my knives anywhere near TBH, BUT as long as it doesn't run too quickly and the water/parafin dribbler works, with modified guides it looks like it would be just the ticket for things like garden shears, assuming you don't have a belt grinder.
'It looks like it uses a 'cup' stone. These can be found online in all manner of sizes, grits and grades as we found out when replacing the stone of a surface grinder at work once.