Tedd's Glove is a glove which Tedd uses to program magic watches. Was also called glove of enchanting at least once by Dan. Tedd never fully explains it, so we can only speculate about its functionality. It is certainly a different object from Tedd's Gauntlet (not only does it look different, but we have confirmed it by Dan in commentary), but it may still have similar functionality of storing magical energy - or it may be a more complicated magic device. It doesn't seem to need a connection to computer to be used, although it may simply connect wirelessly.
We first see the glove when Grace leaves to secretly meet Adrian Raven in Death Sentence 4. After that, we are supposed to first see the glove when Tedd prepares watches with cat form for Sarah. We first see it to program watches when Tedd prepares non-furry cat form.
The actual functionality Edit
When talking with Pandora Raven, Tedd finally starts to describe the primary functionality, claiming that the glove enchants the watches and he's just power source. Pandora oppose that while the technology helps with getting exact spell he needs using the stored data, it's Tedd's ability of being wand maker (a kind of wizard) which enchants the watches.
She also mentions that it wouldn't work for anyone other than seer, although she might actually mean wand maker (Dan confirms that there are wand makers who are not seers).