Accelerometer bit serial data?

The new Accelerometer bit provides basic all-axes velocity data when hooked up as an input bit, but the Hero Inventor app can apparently tell when specific axes are moved, using just the regular Bluetooth Low Energy bit.

Has anyone figured out how the data is encoded? The arrows on the bit mean serial data, right? Can the BLE bit read serial data and transmit that? If so, how? Are the individual axis values just encoded in the regular data it’s getting from the accelerometer? Can I plug the accelerometer bit into d0/tx of an Arduino bit and get something different?