Thanks for the mention. Im not an impartial source (as Im one of the developers) but the basic idea with SLOODLE is that you can either enhance learning activities you are leading in the 3D virtual world of Second Life using Moodle and having it integrated into Second Life.

Or you might want to enrich online components of an existing Moodle course by bringing some activities into the 3D Second Life space…

There is a fairly helpful one-page summary here:
http://www.scribd.com/full/7712582?access_key=key-1tlu5fb9pxfga6c1p90a

This outlines a few things that SLOODLE can do and some ideas of how it might be used. At the most basic level, SLOODLE helps you keep track of student identities in Second Life, other tools and features allow you to do a bit more…