The Cow on Track is just a whimsical version of a semaphore that can be used to interrupt power to a section of track to stop and start a train. Electrically it is the same as the Gilbert Semaphore and Sam the Semaphore Man accessories. The AF Base Post is comparable to whatever transformer post is connected to the outside rail for Lionel. The 7-15V post is equivalent to whatever is connected to the Lionel center rail. The 15V post is a fixed voltage between it and the outside rail. The white wire is a switched outside rail connection that goes to an isolated section of an outside rail. Depending on the track used and the layout wiring it may be necessary to isolate both outside rails on a Lionel layout.
This accessory is designed to work with conventional transformer control only. The Cow is way oversized.