The Industrial Alarm is an upgraded version of the Howler Alarm which, when powered by Redstone, produces a loud pulsing tone and flashes. This is useful for knowing when MFSUs are empty, for use as to catch intruders, or just an awesome way of letting everybody know your massive bank of Induction Furnaces are being heated up. It is probably best used to just indicate when the Nuclear reactor in your basement begins to slightly melt down. The upgraded Industrial Alarm changes the Howler Alarm to orange and adds flashing lights.
The noise can be heard for 64 blocks by default but can be changed via GUI to be heard up to 128 blocks according to the official forum page.
If you wish to remove it, use the wrench or electric wrench.