A plethora of links come across when Twittering, and it was about time that someone came with a way of arranging and presenting these in a different context. That is exactly what this new service does: place the links that come up on the Twitterverse in another plane.
Basically, TwitchBoard listens to your Twitter account and based on what it hears it forwards messages to other services which are not Twitter related. That is, these services do have a connection inasmuch they are social services. For instance, the one service that is supported right now is Delicious.
The fate that will befall this new application remains moot, and it all depends on which services are going to be added next. Should you have any thoughts on that subject yourself, you can always contact the team at the address which is provided to these ends, and let them know where the system should be headed in your opinion.