It's for .223rem. I've got the directions, it's just that after reading them about 10 times, I still can't believe the reading it's giving (way out of spec), so I'm assuming I'm reading it wrong.
It says each line on the body equals .050" and each line on the headspace nut equals .001". Minimum headspace equals zero on the body.
It's about 1/4 of the way from "0" to the notch numbered "1" on the body, and the "0" on the headspace nut is just past the body line.
.223 dimensions are given as 1.4636/1.4736.
To me, this looks about .0124" (1/4 of one line @.050" per line, minus .001"), which would mean... well bad things. It's a fairly new chamber to my knowledge, so that doesn't make sense.