in vb 2008 express this option is available under application properties. does anyone know what is its function? does it make it so that it\'s impossible to open two instanc
Yes, it makes it impossible to open two instances at the same time.
However it's very important to be aware of the bugs. With some firewalls, it's impossible to open even one instance - your application crashes at startup! See this excellent article by Bill McCarthy for more details, and a technique for restricting your application to one instance. His technique for communicating the command-line argument from a second instance back to the first instance uses pipes in .NET 3.5.