Nope. Don't even know what Blio uses for a format, but it is probably EPUB with some form of DRM on top. Anyway, it isn't listed in the DRM types in Alf's plugin, which means you are on your own for DeDRMing it and getting a meaningful format out of it.
Blio doesn't let you open books in ADE or sideload to Nook/Sony/Kobo, do they?