Wiggio takes things like listservs, text messages, voice mail, conference calls, online document sharing, calendars of events and meetings, group chats, polling and more, and aggregates it all into one place. The most practical use for this I see is in group projects. No matter what you study in college, everyone eventually has to do some kind of group project. These are usually torture as everyone in the group has different majors, class loads, jobs, schedules, interest levels in the subject, and other obstacles to a successful project.
If Wiggio does what it says, this eliminates the need to have everyone physically present and allows for better group collaboration remotely, freeing everyone to keep their usual schedule intact. That feature is in itself something that makes giving Wiggio a shot worth your time. I would be interested to hear from students farther into the semester who successfully complete a group project using Wiggio to see if it truly works as advertised over time.
Wiggio is not the first social media application to try and tap into the education market. There are Facebook applications geared towards students that come and go with varying degrees of success. Google Apps has a whole education edition that has seen adoption by several colleges, including The University of North Carolina Greensboro, Clemson University, University of Texas San Antonio, Kennesaw State University and Arkansas State University, to name a few.
Sites like HotChalk offer a way for students, parents and teachers to interact and all be involved in the education process, similar to a site called WizIQ. ScLiPo offers webcam-based online tutoring. Yahoo! Teachers offers a place for teachers to interact and compare notes on what works best for their students. CampusBug offers a place for students to have a more comprehensive experience online, from writing papers online to getting help and doing research, a kind of Facebook for education with a terrible interface.
Probably the closest in concept to Wiggio out of the myriad of tools for education online is CampusBug, but Wiggio seems to offer a more useful service. Wiggio definitely has a better user interface than CampusBug, that's for sure. Facebook also comes close but requires installation of several applications, which many are leery of since several apps were discovered to be invading user privacy.
If Wiggio works like it should, it could be very helpful to the busy college students of today. It may not be the first time someone has tried the concept, but if it is easier to learn and use, it will win.