We called it the UNIBlocks.
Although LARE is no longer operational, you can still get some of these or similar widgets from http://www.vishaworld.com/
They have a shopfront at:
We had boards for microcontrollers, sensors, actuators, cables, mounting grids, power supplies etc. and even modules for Bluetooth, GPRS, GPS, Magnetic Cards, RFID etc.
Photos of the complete set can be found here
You could make projects complete projects like Calculators, Clocks, MP3 Players, interface with evaluation kits or create part of the circuit on breadboards.
Students could use them for laboratory type projects and EEs could use them for development/.prototyping.
Photos of more of these projects could be found here
More videos here