It does exactly what it says. You can activate one of Victory Viper XX03 effects without destroying a monster. So if you were to activate the first effect and destroy a monster with the 1600 attack Victory Viper it would gain an additional 400 attack a la Millenium Scorpion.
After 1 powerup and 9 destroyed monsters, 1 Reyuk, 1 Parana army and the token it naturall spawn + this spells ability to destroy set spell and traps + fields. that's 9999+ damage. new farming deck.
I think it might be a good farming card.
once it got 2400 (trigger its effect 3 times or other cards increasing its atk), and summon one duplicate with the magic card.
you can easily reach 9999+ damage with Vassal + 2 union attack combo.