Your brain cells reset their sodium & potassium ratios when the brain is in Theta state. The sodium & potassium levels are involved in osmosis which is the chemical process that transports chemicals into and out of your brain cells. After an extended period in the Beta state the ratio between potassium and sodium is out of balance. This the main cause of what is known as "mental fatigue". A brief period in Theta (about 5 - 15min) can restore the ratio to normal resulting in mental refreshment.  
As to the second question raised in the above paragraph, audio with embedded binaural beats alters the electrochemical environment of the brain. This allows mind-consciousness to have different experiences. When the brain is entrained to lower frequencies and awareness is maintained, a unique state of consciousness emerges. This state is often referred to as hypnogogia "mind awake/body asleep."  

OK – so some of this is pretty common marketing hype. Consumers have become almost numb to such hyperbole. But still we see some of the common – almost ubiquitous – elements of pseudoscientific scams. The company claims that the device is “effort-free”, that the results are “rapid and long-lasting,” that it is the “most effective” method of its kind, and that it is useful for a broad range of applications (hey, why limit the market). I am used to such hype about dishwashing detergent, but find it intolerable when applied to a pseudoscientific device with medical applications.

♥ I've beeen training in self-hypnosis for a while (under supervision and for a reason) and found that the 8-4 Hz beats put me very quickly in a deeply relaxed state. Definitely the thing! With the timer, I can shut them for the real self-hypnosis. I haven't tried the other beat generators yet, but this one works much better than I expected and clearly does the job. In a few words: I'm impressed!
Since opening their online store in 2011, Binaural Beats Meditation has served “hundreds of thousands” of customers, according to James Matthews, the site’s customer happiness manager. “We continue to see an increase in interest… from individuals, but increasingly so from therapists using the music to help clients, health and wellness organizations, and businesses around the world.”
In addition to potentially boosting sleep-promoting hormones, binaural beats may also reduce our perceptions of pain. A 2017 study found binaural beats used in combination with visual stimulation led to reductions in patients’ perception of acute pain. Other recent research showed binaural beats helped improve pain perception in patients with chronic pain.
By exposing an individual to repeatedly external stimulus which can be flashing lights and/or recurring sounds, the entrainment process consists in pushing the brain to adjust to match the frequency provided. Unlike other forms of neurotherapy which require the individual to actively respond to stimulus, entrainment creates an immediate neurophysical response which is instinctive and effortless for the person being provided with the light and/or sound combinations. The key outcome of the sensory stimulation is known as the ‘Frequency Following Response’.
Entrainment is a term originally derived from complex systems theory, and denotes the way that two or more independent, autonomous oscillators with differing rhythms or frequencies, when situated in a context and at a proximity where they can interact for long enough, influence each other mutually, to a degree dependent on coupling force, such that they adjust until both oscillate with the same frequency. Examples include the mechanical entrainment or cyclic synchronization of two electric clothes dryers placed in close proximity, and the biological entrainment evident in the synchronized illumination of fireflies.[13]