How is this different to Stumbleupon or even Digg? I guess it comes down to smaller, but more dedicated communities of users, and a limit to blog posts only. Worth a play.
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Online Journalism Blog
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Social icons facebook.com very beatiful
I came here searching for that term, because of Darren’s post. Presumably it is as you say, a way of bloggers recommending blogs to bloggers 😉
Cheers,
Will 🙂