There are situations where the ability to switch between different versions of Node.js can be very useful. Remember when running nvm install or nvm use, Windows usually requires administrative rights (to create symlinks).
This has always been a node version manager, not an io.js manager, so there is no back-support for io.js. Tl dr Similar (not identical) to nvm, but for Windows. Manage multiple installations of node.js on a Windows computer. Running into issues? See the common issues wiki.