The VI will let you to browse for the image.
Then it will display the Histogram, by converting it to a grayscale image, or if you have browsed for a gray one, then it will display that.
Some additional parameters also it is set to display are, Minimum & Maximum value of the pixels of the Image. Mean, Standard deviation & area of the image is also being calculated by the VI.
You can select the mode (RGB, HSV etc) thorugh the ring counter given the VI.