What does this exactly do? I set the time interval to 0.1 hours (or 6 minutes) but it doesn't allow my BOINC client to send any data or anything am i not understanding it the right way or doing something wrong? My thought was that this was to be able to control your hosts from one central place.

Hope anyone can clear this up for me.

Yes, BAM allows you to control multiple projects and clients from the web interface.

Did you attach your host to BAM through the BOINC client? You will also have to configure the projects you want to use from the website; one important oversight many people make, is that you have to create your BAM account with the same username & password you use at all of your projects.