Its not totally odd.. Many online link services (like favorites.live.com, or the google based one) will read the local links from your browser in order to migrate them to the online service. So I have seen totally valid uses for something like this.

It was nice to see when I moved to an online service based link repository, I didn't have to re-enter the many favorites I had cached locally.

And at the risk of actually pimping an MS live service, their favorites service is way better than googles, and I really enjoy using it.