Yes, a precipitate indicates that either an aldehyde or ketone is present. The DNP reacts to form an imine (if I remember correctly). Prior to modern techniques, this was the preferred technique to confirm carbonyl structures. For example, if a precipitate with a melting point of 150 C was formed, then this would be used as evidence that it was a 7 carbon linear aldehyde as opposed to an 8 carbon linear aldehyde which might have a melting point of 160 C(melting point # was made up, I don't know the actual values but there are extensive tables of data). The DNP solution is probably just the DNP in a strong acid solution, which promotes the reaction. The term derivative just means that the new imine material was derived from the original carbonyl material. There are other materials that react similarly (ie hydroxylamine). I was in error about high boiling, I meant to indicate high melting point derivatives since they are generally solids.