From what I have heard , it is related to use of web 3.0 properties and using one article site to get traffic for other article site. For example - one put article in ezine article with backlink to website , here also included link to some other article of some other web article site like hubpages. So, they are linked.
Hello there, http://lemonarian.com/, this guy can give u a very basic concept of linkwheel, get him and he will also give a free e-book which explains a lot about linkwheel. goodluck.