That looks very similar to the sync tool in FreeCommander. I like the FC sync very much. Since the current FC is 32 bit, it may have some shortcomings on a 64 bit system. But if you are not dealing with redirected folders, just ordinary data folders, it works fine.
The mechanism in FreeCommander is very similar. Additionally it has check boxes to include or not subfolders. Also once you do the comparison, it indicates with arrows which files would be copied in which direction and you can uncheck any you don't want to include in the copy. Very intuitive.