It is just the unary version of the + operator (see docs) applied twice.
Foobar(++i)
Foobar(+(+i))
Foobar(+(+(i)))
' These are all the same
For numerical values, the unary + (i.e. the + operator without second operand) does nothing:
If expression2 is absent, the + operator is the unary identity operator for the unchanged value of an expression.
However, it is not entirely clear from the docs what it will do to non-numeric values. The docs explain various cases with two operands, which all don't seem to apply here.
There is even one sentence that sounds like it could be applied, but it does not do what it says if used with unary +:
If either Object expression evaluates to Nothing or DBNull, the + operator treats it as a String with a value of "".
So you would expect that +Nothing gives "" as well, but it gives 0 instead. In fact, it appears that the unary + converts non-numerical types to Double, including strings for which + would otherwise mean concatenation (for example +"1.234" gives 1.234, and +"Hello" gives an error that this string cannot be converted to Double - and with Option Strict On, you can't convert any string implicitly anyway). It seems to behave more like a binary + with 0.0 as first operand.
You can also overload the unary + separately from the binary + and give it a different meaning entirely*. (Or do the opposite - make it do nothing even on a non-numeric type, such as what TimeSpan does - it returns the original timespan again when unary + is applied on it, and not a Double.)
*: Which probably is not such a good idea though. When overloading an operator, the meaning of it should always be intuitive.