Once enabled, you will be able to view the generation seeds of worlds created after the 1.3.4 update and also be able to generate specific world seeds.
The experimental features option enables both of these new features, however this guide will focus primarily on the world seeds feature.
World generation seeds and texture packs are the current experimental features being tested on the PC version, meaning that while it is part of the game they are not fully developed and working perfectly or implemented in a user friendly manner.