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From the Geswall website on how it works…Overwiew
OVERVIEW
GeSWall focuses on attack objectives such as taking control of a PC, stealing data, breaking system integrity and prevents damage regardless particular attack techniques. It protects you from intrusions and malicious software by isolating Internet exposed applications. Isolation applies an access restriction policy that effectively prevents all kinds of attacks, known and unknown.
Once installed, GeSWall dynamically isolates web browsers, e-mail, chat, P2P, IRC clients and other applications that may serve as entry points for malicious software or intrusions. Viruses, trojans, spyware and exploits cannot pass through an isolated application and so cannot cause any damage.
…So it does Isolate and put your browser and main web tools in a different folder…and does in a way act like Sandboxie…