Funnily enough, I've been using this feature for as long as I've been a participating member.

It's basically a place where you can store the names of members, for one purpose or another. (I personally use it as an address book and who's who list for people on this forum I frequently communicate with; a memory aid of sorts, useful when you're as good at getting people's identities mixed up as I am.

:) Each name on the list links you to the respective member's profile page, and can be accompanied by a short description. There's also an "Allow this member to message you?" option, which I'd assume can be used to block another member from messaging you (I've never used it; I'm not exactly sure how it works in regards to admins sending you important messages; and for all I know, I could be wrong about its function

).