The extension is of use for developers in case of using the data of an item in a component list in the core component backend or their custom extension backend.
Title or name with id of that component will be the key to harvest all data belong to that item in developer's extension.
If the modal is to be appeared in the backend form of a core or custom component extension, there may be needed to add:
echo $this->form->renderFieldset('params');
to the layout of core or developer's extension backend. (Better to add the line to the layout override).
In case of adding the modal to backend of module and/or plugin extensions, there is no need to update anything.