Microformats are becoming the latest and next greatest thing for the web it seems. If you are interested in finding out what microformats are, visit the microformats web site.
Alan Faaborg from Mozilla Labs designed the extension and Michael Kaply developed the extension. The extension is installed as a toolbar and detects hCard, hCalendar, geo, hReview, hResume, and rel-tag microformats. If it finds any microformats, it enables certain items on the toolbar. Click the toolbar and you'll be able to export the address, events, or business card to an external format.
On the far right of the toolbar, you'll see the options button which contain various ways to display the data on your toolbar, how do you want to handle each microformat, and what do you want each microformat to do.
Microformats are fast becoming a trend by injecting HTML with additional formats that are recognizable by the browser. Eventually, you won't need an extension to recognize microformats, they will be an innate feature of the browsers. The Operator extension is just one step towards browsers detecting the microformats automatically.
The Operator extension is a good start, but I would love to see custom applications integrated into the extension. I understand the other application would require the intelligence to read the microformats, but that's something we can all shoot for with future web and desktop applications.