What is that all about? It is a service that helps you monitor web sites that do not publish feeds. It will check any web page for updates and deliver them to your favorite RSS aggregator.
Using RhNav - Rhizome Navigation I wrote a data aggregator for Technorati's API. The first result is a video which visualizes blog domains by analysing Technorati's Cosmos (the blogs which link to a particular URL). The video is a screencast of RhNav fetc
Reading lists are OPML documents that point to RSS feeds, like most of the OPML documents you find, but instead of subscribing to each feed in the document, the reader or aggregator subscribes to the OPML document itself.