http://talk.collegeconfidential.com/harvard-university/1220700-harvard-book-award-question.html
It’s basically public relations by the local Harvard alumni club to your school because they wish to maintain a “presence”. You can bet your last penny that the neighboring district’s low income/blue collar school never has an Harvard (or Yale or RIT) alum dropping off the book prize for their honors ceremonies.
My alumni club (Yale) gave them to a handful of schools (0-3) any given year, only based upon the request of some local alum who had graduated from that school. They were a waste of money and when I was its president, I ended the practice.
Congrats but it simply means your faculty/staff view you as one of the top juniors. It means nothing to colleges that the rest of your transcript/profile won’t already prominently display. Congrats on THAT accomplishment-- the book award? Hopefully it’s a good read. Never heard of it allowing you an app waiver however.