To use: First, save your game in case you want to go back to vanilla (and degrading framerates for now). You will need to activate the Script Editor (SE), which will immediately mark your game as modified. Hey be thankful at least you can continue to play AP and TC games with framerates that are almost identical to that experienced at absolute game start. Niiiiice!!

Once you reset the MD you'll get a pause for a few seconds and your framerate should increase dramatically depending on how many sectors you have visited since game start or last time you reset the MD. On a high end PC and in late game this could be as high as 100x but more often 5x to 20x. As your game will be marked as modified if you are intent on continuing a vanilla game you can still test this option, but you will need to reload your vanilla game and thus go back to your further degrading framerate. For now. If you are playing modified anyways I'd expect you can just continue your game and then reset MD regularly to keen things running nice and smooth.
Annoyed at only having a "modified" temporary solution? Don't be. You have been provided with a choice, just like Egosoft had the choice of not providing anything at all before the full MD fix was ready. So either rejoice and accept, or keep playing vanilla for now.
Kudos to Egosoft for including this while we're waiting for the full, official fix which will mark the end of significantly degrading framerates in vanilla TC and AP games.
EDIT: Please see below for discussion of effects on main plot missions.