Actually AeroPeek is both.
Justg making all Windows transparent to show your desktop icons and gadgets under Winstep Xtreme is not very useful, for instance: to start with, you can use the Desktop tab on the Shelf so you can run with a 'clean' desktop (i.e.; no icons or with hidden icons). Then you can use the built-in Hide/Show Desktop Modules internal command (which you can add to a dock, Shelf tab, menu, taskbar, or even invoke via a keyboard shortcut) to have something similar to Apple's Dashboard, in which the Winstep Desktop Widgets come forward and go back on demand.
What Xtreme/Nexus allow you to do is the most useful part of Aeropeek, i.e.; mousing over a window thumbnail renders all other windows transparent AND displays the window even if minimized.
