Altoholic was renamed to AltSync due to conflict with a WoW addon called Altoholic.
AltSync is for syncing all of your alts name's on each alts friends list. This is handled for you automatically by the addon. All you need to do is log in with each alt and their name's will be added to the database. There is only one action that you will have to do manually. If you delete an alt at the character selection screen then you will need to delete that alt's name from one of your alts friends list. Once that is done the change will be synchronized across all of your other alts on that server.