Expo can be used to increase or decrease the sensitivity of input around the center or near the edges. At 0% expo output will be linear in relation to input. At 100% the formula output = input ^ 3 is used, creating very little response around center stick and very much response around the edges. At -100% the formula output = input ^ (1 / 3) is used, creating very much response around center stick and very little around the edges. Any other value results in a interpolation between the linear function and one of the other functions.
It's important to note that Expo does not limit the total amount of servo throw.