Lots of couples talk to each other. Few listen properly and without judgment. This exercise teaches you good principles for both. It's also designed for you to get to know your partner as he is now, as opposed to how he was when you first met. That was probably the last time you allowed each other to talk uninterrupted, without making a comment or silent judgment about what the other was saying!
I've written the instructions of how it works from the perspective of the person doing the listening. And yes, this will have to be you at some point, so grit your teeth and volunteer to go first! Now, I'm going to be Ms. Bossy Boots for this one and insist you follow the rules, or it simply won't work.