The Block Placer places one block with each redstone pulse reaches the machine. The machine can not be accessed by Insulated Wires and Bundled Cables from Project Red but rather with the Red Alloy Wire and vanilla Redstone.
The range, to place a block, is only two blocks above the machine. If this two positions are occupied, the machine waits till one block is removed.
Placable blocks can be added by opening the inventory with a right-click on the machine, or by supply the machine with the tube- or pipe-system from Project Red.