This is just a guess, but the writing on it suggests (to me) that it was intended to be used but the loaders. Again, just a guess, but I'm thinking that rather than actually "count" the ammo left in the magazine, it uses clockwork, i.e. it begins to countdown the moment the firing button is pushed, since they know the firing rate of a 20mm Hispano cannon, and stops when the button is released. Although it wouldn't work well if you didn't release the trigger when a gun jammed, it would give you an idea as the the minimum ammo left.
As for what plane it might have come from, the "inboard" and "outboard" would suggest to me a 4-cannon plane, like a Spitfire or Hurricane with the "C" wing. I don't know if they could just ignore the "outboard" markings with the planes with only 2 20mm's and 4 .303cals, or use a different counter. The Typhoon was also a 4-gun plane. To complicate things, "inboard/outboard" doesn't necessarily mean wing-mounted guns...the same terms are used with nose mounted guns like the Beaufughter and Mosquito have. I'll keep an eye out. The sight that beaupower32 mentioned also has a very similar .303 counter, but that only says "Set For One Gun", which I would guess means that all the guns hold the same amount of ammo. I noticed that it seems to be less grungy around 400 rounds, which I think is the number each gun in the Spitfire holds. I dunno...good luck. My feeling is that it's from a multi-engine plane, but that's just a pure hunch.