The action does exactly what it says, it executes some snippet of JavaScript. It's mostly useful for simple JavaScript stuff.
It's not quite sufficient to easily use some JavaScript library. First, importing the library into the files folder isn't enough to make it usable. for that it needs to be loaded in one of three ways:
1. Edit the exported HTML file and add the library with the other js files.
2. Load it after the fact with the jquery.getScript function.
3. Make a plugin and put the library in it's dependencies section of the edittime.js.
One is a bit akward to use for testing, but it is the normal way to include JavaScript files in HTML.
Two is slightly tricky since loading a library is asynchronous so the library can take time to load an may not be usable right away. The syntax is $.getScript(filename, callback) and callback is a function to call when the library is done loading. If you want examples of such a thing search my posts for JavaScript.
Three is the reccomended way by making a plugin. Doing it with a plugin may make some things more straightforward than the other two methods.
So then after you get the library loaded how you use the library depends on the library.