This feels more like marketing than it does a serious open education project, but I may be misinterpreting the intent. What I do know is that when I go to the LabExchange website the most striking feature is the big white bank of sponsor logos right across the middle of the page. The idea is that they "curate and create world-class digital content, delivered on a free, online platform that lets you integrate your learning and research experiences." I signed up for 'collaborate' and found my account linked to an EdX account I tried a 'simulation' to find it was an interactive where you drag content into the right box, and are scored 'right' or 'wrong'. I tried 'remix' but found I could only create a 'pathway' of their learning resources.
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