This is the bomb remote you used to blow up the Longbow base in Crimson Cove. It's a reminder of a tale you like to call:
It all started when Kristoff Jaeger, an ex-Longbow Agent, asked you to prove your willingness to go against Longbow. After taking out a quota of Longbow Agents about Crimson Cove, Kristoff seemed willing to deal with you further.
The first step was getting the latest intel on Longbow security from an Arachnos Operative located on Sharkhead. After receiving the intel you discovered a lot of the high security Longbow bases have installed advanced retinal scanners.
Jaeger's spy network revealed that Crey was working on a retinal copy device which may come in useful against the new Longbow security measures. Breaking in to the Crey lab you stole the retinal duplicator.
Now that the retinal duplicator was in hand, you needed a Longbow target to use it on. Breaking into a Longbow administrative office, you stole a set of files detailing Longbow personnel in Crimson Cove.
Jaeger reviewed the personnel files and chose Doctor Franklin Vimes, a Longbow scientific researcher who was above reproach. Vimes was scheduled to come into port from Paragon City, so you went to intercept him. You managed to fight past the Longbow guards and kidnap Vimes. Taking him back to Jaeger, you used the retinal duplicator to get a copy of his retinal print.
Jaeger revealed the objective of the work to date - the destruction of a nigh-impenetrable Longbow base. Using the copy of Dr. Vimes' retinal print, you managed to bypass the security of the Longbow base in order to plant bombs at the key weak points of the structure. After you planted the bombs, you used the remote to blow the Longbow base to pieces.