UMLX is a graphical transformation editor that aims to provide an environment for creating and executing model transformations. It allows users to visually define transformations using relations and evolutions. The document discusses UMLX's goals of being error-checked, executable, and interchangeable with textual notations like QVT and ATL. It also outlines UMLX's current features like multi-model editing and its use of transformations to convert to other formats.