In Bjarne Stroustrup's "The C++(11) programming language" book, section "11.5 Explicit Type Conversion" you can see what it is.
Basically, it is a homemade explicit templated conversion function, used when values could be narrowed throwing an exception in this case, whereas static_cast doesn't throw one.
It makes a static cast to the destination type, then converts the result back to the original type. If you get the same value, then the result is OK. Otherwise, it's not possible to get the original result, hence the value was narrowed losing information.
You also can see some examples of it (pages 298 and 299).
This construct could be in use in third-party libraries, but it doesn't belong to the C++ standard as far as I know.