It's not in both places... it is setting the bottom right corner of the tooltip to a point that is relative to the bottom left corner of the user interface (UIParent) setting it overlay:GetRight() (a distance in screen units) from the left edge and overlay:GetBottom() (also a distance in screen units) from the bottom edge of the user interface
Think of it like this...
xOffset = overlay:GetRight()
yOffset = overlay:GetBottom()
anchorPointOnTooltip = "BOTTOMRIGHT"
anchorPointOnUserInterface = "BOTTOMLEFT"
userInterface = UIParent
tooltip:SetPoint( anchorPointOnTooltip, userInterface, anchorPointOnUserInterface, xOffset, yOffset )
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