WPMU Last Updated Blogs Plugin
The WPMU Last Updated Blogs Plugin gives MU WordPress administrators and easy way to display one post from the last updated blogs in their Mult-User WordPress installation in no time. Simply load the plugin into the
mu-plugins directory (located in /wpmu/wp-inst/wp-content/), and you will have the wpmu_gois_last_updated() function. You can see this in action at Streethound.com on the home page as well as in the left bar of all subdomains. Placing the plugin in the mu-plugins directory will make it available in every subdomain without having to manually activate it in each dashboard.
WPMU Last Updated allows you to configure three variables: The number of posts to display, the number of words to display per post, and an offset to tell the function where to start displaying posts (offset 5 to start at the 5th most recent, etc).