"Leaky Pointers", more commonly known as "Dangling Pointers", is useful to create an attack chain to bypass a layered security system.
The idea behind DEP is that you are making regions of memory non-executable, such that shellcode in this area cannot be executed. DEP alone is really easy to bypass, you can just ret-to-lib, and call any function you would like,
system() is a favorite.
However, under Windows, ASLR enabled libraries will have a randomized memory space, so the attacker won't know the memory address of the
system() function, and therefore cannot call it. The idea behind ASLR is that it doesn't matter if you can control the EIP if you don't know where to jump to.
Being able to read the location of a region of randomized memory undermines the protection of ASLR, because now you have a reliable jump location. This can be accomplished though a wide variety of methods. Using a buffer overflow to simply overwrite the null terminator and read past the end of an array has been used in pwn2own against IE. But really the most common technique is using a Dangling Pointer which can be used to read/write or even execute a valid memory location despite ASLR.
Even with ASLR, not every memory location is randomized. In fact the executable binary has a predictable layout, so you can use the executable against itself in a ROP Chain. However sometimes it's difficult to find useful ROP gadgets, especially if the target binary is very small. If you are unable to build a useful ROP Chain, then a memory disclosure vulnerability, such as a dangling pointer, is a great method of attack. It's important to note that ASLR only randomizes the location of the page (the first few bytes of the memory address.) If you can populate a region within this page with your shellcode then it may be possible to accurately execute your shellcode by using the leaked memory address as a base and then hopefully your shellcode is at some offset of this random location.