The quickest way to get to see the results you want appears to be to log off Moodle, then log back on, go to your course, click the link and see a beautiful thing. If you don't log off before testing, you will keep seeing a weblog window that requires login.
You may notice your Elgg logged in users count lagging behind your actions. Not to worry.The count eventually rights itself. In the meantime, everything else should work.
E-portfolio (Elgg) Authenticating Block Title Link to User's Weblog
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