This was designed to let users who have their own blogs on their own sites display the latest blog post by their name. From what I saw of the vB Blog announcment, it offers RSS feeds, so it could be used to display the latest vB Blog post, but users would need to put the blog feed URL in their profile.
I imagine that vB will update their vB Blog at some point to include this feature, but as far as I can tell, right now it just shows a number indicating the number of blog posts instead of a title/link to the latest post.
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