This effect expands your artwork as if it were painted on a balloon. It can be used to bulge out the middle of shapes, or pinch in the shape. If you want to constrain the expansion to just one direction, use either Balloon Up & Down or Balloon Sideways.
The amount slide will vary from -200% to 200%. Positive values will balloon the shape outward, while negative values will pinch the shape inward. At 100%, the shape will be expanded 100% of its middle dimension.