The name "Novobot" is made from two words: novosti ("новости"), which means "news" in Russian, and bot, which is a short form of "robot". Novobot is a robot-like program which crawls the web feeds for news. Yes, that should explain it.
Download and read the guide (PDF, 220 KB). You'll need Adobe Acrobat Reader for this. You may also need NovEdit application (ZIP, 250 KB) to create the initial NOV file. After you import it into Novobot, use Channel Properties dialog's Edit Data button to edit NOV channel's XML document.