It would, in short, allow machines to pass energy to other machines, making wiring up a line of machines much less space-consuming (at a cost).
Possible Implementations:
-Standard upgrade; Turns the machine into an eu-conductor, like a wire without affecting other functions (not 100% sure if this is possible)
-Can be placed onto the side of a machine, ala redpower frames + panels. The upgraded side would conduct energy, like the dotted side of an eu storage block
-Standard upgrade; the number of upgrades determines which face of the machine outputs power.
I admit to being inspired by Redpower's blutricity, and how blulectric machines conduct power, making more compact builds easier to execute. Any thoughts?
Edit: A recipe for Kevindude:
Where is Splitter cable
Edit the second: added some more thoughts from the reply-ers. Thanks guys!