Hi Nigel
It is one of Dirks attenuators - most of the information including schems can be found here:
http://www.tube-town.net/diy/tt-pos/tt-posx-de.html - I have got the 200 watts version (TT PoS200 Pro). I built it a few months ago for a friend of mine, but he changed the amp and gave it back to me.
At least I find the treble "correction" pretty useful while attenuating signals to a very low level. The overall performance is pretty good, at least in relation to the price of DIY kits of them. Refering to calculations I have done on their resistance they do not react exactly like a speaker, but resistance increases with input frequency which is close to the behaviour of a speaker.
I think Aiken has a more complex model, but which is a power soak / load box and which behaves like a guitar speaker - I tried to build it years ago but was not able to get most of the parts, so I left it.
Overall I would recommend Dirks attenuators before spending around 300 to 400 euros for a THD or Scholz.
Regards, Stone