This texture replaces the "color","reflect" and "filter" attribute with specified values, in a checkerboard pattern. It is really more like a 3-d array of "checkered cubes" ... and where the object's surface is inside a given cube, that's what color you get.
The texture axes define a "cube" boundary ... so you must be careful to not let it be "in the surface" of a grround object, say, or you may get weird results ... like a "static" noise pattern.
