The array is used to indicate the pin number, for each iteration of the loop:
//Example when loop's index (variable "i") is 0 (the first iteration)
analogWrite(pinsLED[i], value);
// is equal to:
analogWrite(pinsLED[0], value);
// which finally is equal to:
analogWrite(3, value);
EDIT: Oh, I didn't see the very first line...it's the sizeof preprocessor directive, that will be evaluated, and replaced at compile time with the size of the array, 7 in your case. But, still in your case, you can just use sizeof(pinsLED) it will be the same thing because each item in the array is only one byte big.