It actually records all meetings or meaningful team interactions (video mainly) and it allows people to bookmark the moments and put context. After the end of the meeting, all bookmarks, tasks etc are saved and you can share important points with people that could not be there.

The most amazing thing is that you can mention people with permalinks that get you in the exact time something was said.

Now, can it run on a hardware like Microsoft of whatever? YES

but the innovation is in the concept of LIVING MEETINGS that they live after their end, since people can go in and socially enlive them :)