Got a simplified block diagram?
I'll try to work on one, but essentially it replaces the cable between the console and the PC. In theory you could use port forwarding to connect to your console, using a remote PC running your weather software of choice from anywhere in the world.
In weatherlink I set up the console selection using the "TCP/IP" selection, then added the IP address of my link (as found in my connected devices on my home router) and selected port 23 (instead of 22222)
It downloads the logs, posts current conditions, in fact so far it has seamless functionality as if the console was connected via USB.
It is powered by the console, so might be a little bit power hungry, so I am running my console from the wall wart.