I recently logged on ForumKorner today and seen there is a new tab next to the "Inbox" tab. And I'm just wondering what the "Alerts" Tab is for? Also, for the administrator that had added it should of added it for the Mobile version. Would be more helpful.
It has it's own settings, which can be found here. Whenever someone does something that triggers the settings (e.g., quotes one of your posts), you will receive an alert to notify you about the action.
I probably made it sound more complicated than it is, but yeah. It's kinda like receiving a notification on Facebook.