Divide Edges

Point Mode:
In point mode, divide will divide edges into two segments based on your point selection. Each pair of adjacent points you select will be treated as a selected edge to be divided. To battle Lightwave's inability to select edges, I had to make a rather tricky edge selection system. The plugin will linearly search for adjacent point pairs - every possible linearly-ordered pair it finds is used. This allows for the selection of adjacent edges without running the plugin twice. However, it might take a little time to grow accustomed to the selection style, but it can become quite natural over time. Here are some images to illustrate:

In the above example, the only linearly adjacent pairs in the selection are edges 0-1 and 2-3. 3-1 and 0-2 are not adjacent, therefore only two edges are selected.
In the lower example, there are four linearly adjacent pairs in the point selection. 0-1, 1-2, 2-3, and 3-0. As such, 4 edges are selected.

Poly Mode:
In poly mode, the tool will divide edges between polygons. It's a lot easier, quicker, and more straightforward this way than through point selections, but isn't as flexible for doing multiple edges within the same poly. Additionally, the tool can divide the edge at the starting and ending polygons, provided that they are not adjacent. If they are adjacent, then a loop is formed and a the shared edge between the first and last polygon will also be divided. It's rather difficult to explain - the best way to see this is to experiment with the tool.