This module solves the Internet Explorer limitation of loading not more than 31 CSS files per HTML page (http://support.microsoft.com/kb/262161).
The module will only kick in when it is needed, and remain silent otherwise.
This means, as long as Drupal's CSS aggregation is enabled, or your module count is very small, you will not notice any difference.
No configuration needed, just install / enable the module.
Drupal 7
This problem is fixed in Drupal 7 core. Therefore, there will be no Drupal 7 version of this module.
Alternatives
IE CSS Optimizer: It does more or less the same as this module, with some subtle differences in implementation.
As an additional feature, it can aggregate all stylesheets except for those in specified themes or in the modules. Quite convenient, eh?
Advanced CSS/JS Aggregation (afaik) does everything that Unlimited CSS does, and a lot more.
It is definitely heavier, but do you care?
Differences to IE CSS Optimizer