News feeds are lists with one or more news items in them. They are designed for "News feed" blocks which cycle through multiple news items dynamically.
Items can be added to a news feed explicitly using Items, or by Include news items by tags which can dynamically get news items from this and other sites based on the tags for those news items.
News items which are inactive, hidden, excluded by date range or viewer properties won't show in a news feed in VSys Live even if they're part of that news feed.