From the screen shots (see below, care of Rubel), it appears to have very similar features as Digg, where users can vote for stories they find interesting and force them higher in results.
I’ve emailed Technorati for a comment but haven’t heard back yet. This may be a product that they did not intend be available for public scrutiny quite yet, and Rubel’s post may have resulted in them removing it.
Technorati launched a TechMeme-like site called Technorati Explore in early 2006. I just checked it on a whim to see if it was still live – and it’s been removed as well. I can’t find any announcement of the product going dark, so it may have been any time in the last few months.