This line would be from a loop that iterates through the %count of nicknames with a matching %host_to_search_for address mask. It does this %count times, creating a list of all the matching nicknames together into a the %clones variable.
$ialchan(*!*@*.aol.com,#aol,0) would tell the loop how many times it has to iterate.
$ialchan(*!*@*.aol.com,#aol,1).nick would be the first matching nickname.
$ialchan(*!*@*.aol.com,#aol,2).nick would be the second matching nickname.