It can be confusing.
The AirLens will support DSD256 and PCM352 for sure.
To stream music you need 3 components:
A controller
A server
A renderer
The controller is the user interface that allows you to select what you want to listen to. It can be pretty stupid. You select a track and that information is then presented to the server. The server knows the file location of that track and its job is to connect that file to the renderer. Once connected, the server and controller sit idle.
The renderer (in this case the AirLens) accepts the digital file output and prepares it for delivery to the DAC.