It's called iNow (or maybe STI iNow). Am having trouble finding a link for the company because most of the Google search results are for various school systems that have implemented iNow.
Interestingly, I've had a family friend starting out as a teacher say that she can't find a good, intuitive gradebook. Maybe there's a market for that as well. I think it's fair to guess that this kind of software is made for buyers, not teachers, and may not address their needs very well. I could be totally wrong.
No, you're spot on. She hates working with iNow, and we have yet to talk to a teacher who likes working with it. Seems safe to assume that the buyer was someone who will never have to use it.