Here's a quote from Brandan at 4DSLR:
The problem is that most monitorsor audio recorders mount from on top of a hot shoe. This places the accessory on top of your camera and makes it bulky and sometimes awkward, particularly when you want to ditch the tripod and get some handheld shots.
That is why I created the 4DSLR Tripod Stud. When running a camera for a long time, it helps to be able to put the monitor or recorder right where you want it. Then it is easily accessible and visible. It also allows you to easily grab the camera and go, in order to get a different shot away from your tripod, leaving your bulky accessories behind.
On location using 4DSLR Tripod Stud
The 4DSLR Tripod Stud screws directly into your tripod and enables you to quickly mount accessories directly to it, for video or photography. Once you experience using this you will ask why tripod companies don't automatically make a tripod this way. You will not want to shoot with out it.
Check out their Kickstarer Campaign: 4DSLR Tripod Stud
(cover photo credit: snap from Kickstarter)