BIM allows individual students to register RSS/ATOM feeds and for the teaching staff to manage and mark entries in those feeds. The original intended use was for students to use external blogs as reflective journals.
The module has been used at a couple of Australian universities. More information is available on the this page including a video that provides an overview of BIM based on a MoodleMoot'AU 2010 presentation.
The process of adding BIM to CONTRIB has commenced, in the meantime