Simply put, this plugin makes the scrolling pagination found on sites like dzone.com and Google Reader easy to implement on your site.
To see an example, simply scroll down to the bottom of this page - you should see an unordered list with 50 items. As you get closer to the bottom, this list will expand to 100, then 150 afterwhich it should stop.
This is of course all configurable, and intended to be used on an automatically generated page using a backend script (eg php).
Please note that this script is still currently in beta, so if you find any problems please post a bug submission to http://code.google.com/p/flexidev/issues/ with as much information as possible