Technorati introduce a score for each blog that measure the “authority” and this Technorati Authority is the number of blogs linking to a website in the last six months. The higher the number, the more Technorati Authority the blog has, you can read explains in Technorati blog.
If you are writing paid reviews for some blog advertising network companies like reviewme.com and sponsoredreviews.com, they are still using Technorati Authority to measure your blog ranking apart from Google page rank, RSS or others. For me, I just use Technorati Authority to check the blogs that linked to me only, then I will follow the link to read the linked post.
The Technorati Top 100 shows the most popular 100 blogs based on Technorati Authority. May be you haven’t know, some of the blogs have been banned from the Technorati Top 100 as below:
1. Alex King created a popular plug-in to display the most popular posts on a Wordpress blog.

2. John Chow asked readers to write reviews about of his blog in exchange for a link back (He also get banned by Google, if you type JohnChow.com, you will never find this domain name in the first position of the Google page)

3. Matt Mullenweg created some blogger software and his links come from the default Wordpress blogroll.

4. Binary Moon designed popular blog theme

P/S: Picture are sourced from blogstorm.co.uk.