At the start of the first battle round, after selecting one or more Dread abilities to be active for your army, you can select one additional Dread ability to be active for your army. This additional Dread ability cannot be randomly selected.
Read it against Harbingers of Dread to see the size of it. The army rule gives you Deathly Terror from the start, then lets you take one chosen or two random Dread abilities at the start of the first, third and fifth battle rounds. Anything selected stays active for the rest of the battle.
So on turn one, without this detachment, you have either two abilities (Deathly Terror plus one chosen) or three (Deathly Terror plus two random, with a chance of a wasted duplicate). With Traitoris Lance you have three or four, and the extra one is guaranteed to be chosen rather than rolled.
Front-loading is the whole value. An ability taken on turn one is active for five battle rounds; the same ability taken on turn five is active for one. This detachment does not give you more abilities in total, it moves one of them forward and removes the randomness from it.
Which one to take with it. That is your call, but two are worth flagging. Dominion adds 3 inches to Aura ranges, and four of the seven Dread abilities are Auras, so taken early it improves every later pick. Despair stacks a second point of Leadership penalty on Deathly Terror inside the same 9 inch bubble, which is the fastest way to start forcing failures.