First off, what is veotag?:
veotag is an exciting new service that lets you display clickable text, called “veotags,” within an audio or video file.
Your audience can see the veotags whenever they play your file on the web. Clicking on a veotag lets your audience jump right to that part of the file.
Sounds like veotag will be a way for vlog producers to make chapters in their video much like DVDs. I haven't really got into video blogging yet but judging from the press and the sites description this is definitely something that should make vlogs and videos published on blogs a bit easier to navigate.