It's used to define an anonymous function and then call it. I haven't tried but my best guess for why there are parens around the block is because JavaScript needs them to understand the function call.
It's useful if you want to define a one-off function in place and then immediately call it. The difference between using the anonymous function and just writing the code out is scope. All the variables in the anonymous function will go out of scope when the function's over with (unless the vars are told otherwise, of course). This can be used to keep the global or enclosing namespace clean, to use less memory long-term, or to get some "privacy".
