This feature can be customized to meet your needs, or disabled if it is causing any problems on your site. (If it is causing problems, please let us know!) However, it was written to be as compatible as possible with any other services you might be running that perform similar functions – MyBlogLog, for example. These actions will show up in the standard page view pages (clicks, and spy), but will soon have their own dedicated pages as well.
There is a lot more information here, including how it can be customized and disabled. The customization is somewhat basic at the moment, but is the first step towards being able to track any data you want for your visitors – usernames, cookie values, and more. That is just around the corner.
This feature is open to everyone right now, but it will likely be a premium only feature in about a month or so. Our site will soon be going through a somewhat major redesign, in terms of what content goes where. And there will be pages dedicated to just analyzing outbound links as well as file downloads. For now, however, it is just mixed in with the standard page views.