I've now found a similar site, TrafficG, which may be better and more versatile.
Both work on a similar principle -- you surf blogs from their site, and as you do so you earn "credits", which are applied to directing other people to your blog(s).
Both of them have selections of interests -- you can say what interests your blog caters for, and what kind of blogs you are interested in, and that should mean that when you surf you can discover new blogs on topics you are interested in.
Unfortunately that feature of Blog Explosion stopped working some time ago. My main interest was "Books, literature and writing", but it hardly ever shows me blogs in that category any more, and when I visit it shows me blogs in categories I'm not interested in , the same ones over and over, even if they haven't been updated for months.
TrafficG seems to be based on the same idea, so I'll be interested in seeing if it works any better, and shows me some more interesting blogs.
To me the "interests" thing is crucial.
I'm not interested simply in "hits" -- what I want is readers who are interested in at least some of the same things I'm interested in, who will leave intelligent comments on the content of the posts, and possibly lead to interesting conversations. Blog Explosion did that in the beginning, but no longer does so. I think the owners have got bored with it and are neglecting it.
So here's hoping that TrafficG works better.
And the verdict is...
Blog Explosion beats TrafficG hands down.
For all its faults, Blog Explosion does occasionally show me a web site that I find interesting. Only about one in 20 match my preferred interest (Books, literature and writing), but TrafficG did not manage to show me a single site that was of any interest at all. About 99,9% of them looked like paid ads for other web sites that promise to bring traffic to your side -- and none of them looked like they would have any interest in visiting my blog, much less be capable of making intelligent comments. That kind of "traffic" I could do without. It looks like TrafficG is the tip of an iceberg: a huge incestuous network of "traffic-generation" sites wasting bandwidth by generatng traffic for each other in an endless circle.