I suspect you're referring to this, which is only available for video playback:
But that's just pixel shading. Pre-processing the signal sent to the monitor (a digital signal).
Analogue overdrive in an LCD is like sending a pixel of value "280" to the pixel, whereas the graphics card connected to the monitor can only send a maximum of 255. Well that's an extreme example, it wouldn't necessarily always be an "out of range value".
It's possible to come up with an always-on pixel shader that adjusts every frame before delivering it to the monitor, based on the prior frame. It would be better if it also knew what the next frame is (which in video playback is trivial, which is prolly why the functionality in the driver is only for watching video).