This is just a guess, but reading the specs, the product in the OP is most likely a decent brushed DC motor controller, so it would rectify the mains, then use a half bridge (likely a MOSFET or IGBT, plus a freewheeling diode) with current sensing and pulse-by-pulse current limiting and PWM to chop the power to the brushed DC motor; which is exactly what a "universal" motor is. This gives excellent torque and speed control and efficiency.
I see no reason why it couldn't be abused to drive heating elements, given that their cold resistance isn't too low. With too little inductance, the pulse-by-pulse current limit won't work, so it can't save itself (the MOSFET/IGBT) from overcurrent if that ever happens.
Of course, it's more complex and expensive than it needs to be.