Generator effects generate a pattern. The generated output is typically used as input to another effect. iMaginator draws the generated image over the main image using Source Over compositing.
Hint: If you want to get just the generated image with no visible main image, make a new iMaginator document and drag the "clear" image from the Textures gallery of the Images Library into the Image View area. Then apply a generator effect. You can then use this image as input to other filters.