I found my last post about the Blio iOS app (from June 2010), and I can't believe how enthusiastic I was. Blio was a platform that had such great promise and it came to nothing.
Seriously, the Blio app doesn't do anything special, and it reads its own funky format. It's supposed to support TTS (it doesn't). And it's supposed to support a rich text format, but pretty soon so will everyone else (Epub3).
Back in 2010, Blio was the hot new thing. Now it is firmly in my "don't even bother" category. It never lived up to the hype, and now that you have better alternatives it's simply not worth the bother.