This is mostly a behind-the-scenes thing that hooks into other engines.
Basically, various site functions can now happen automatically at certain times. Additionally, content can be "held in reserve" and then created at a certain time. Lastly, schedules can be "recurring", which means they happen over and over.
The engine supports the following schedule types:
Do something once at some exact date/time that you set.
Do something every X hours.
Do something every day at a certain time, but only on the days of week that you select.
Do something every Monday at a certain time (or whichever day of the week you want)
Do something on the Xth of each month (1st, 5th, 15th, etc)
Do something on a specific date every year
Things that this engine will make possible (and that I'll probably program at some point)
Delay a Site Announcement until a certain date (ex -- major video game launch)
Batch create a bunch of discussion-generating posts and slowly leak them into a forum over time to keep activity consistent.
Automatically turn Costumes on at certain dates and turn them off at other dates (Easter you might have to set manually)
Automatically GO LIVE with your stream at a certain time (which also opens it, makes a post for it, etc)
Automatically go to the next round every 48 hours (or whatever you set) in NIFE for truly automatic games.
Turn Automafia night into day after 24 hours, turn day into night after 48 hours (again, or whatever you set)
Automtically turn Stream Feature messages into posts that get dumped into the thread (although I might want to just to do this only when a channel closes).