This is Google's new robot tag, which ensures that your embedded content is properly indexed.
Even if the content page has a noindex element, you may still tell Google that you want your content indexed when it's embedded in other pages via iframes and other HTML tags.
If you embed information on your site and want to customise how that material gets indexed, this new index-built robot tag gives you extra options.
The new indexifembedded tag, according to Google, works in conjunction with the old noindex tag
When a page with noindex is embedded in another page using an iframe or similar HTML tag, the indexifembedded tag is used.
Here are two code samples for implementing it: one using a standard meta robot tag and the other using an x-robot implementation.
<meta name="googlebot" value="noindex" />
<meta name="googlebot" value="indexifembedded" />
<!-- OR -->
<meta name="googlebot" Value="noindex,indexifembedded" />
At the moment, Google is the only search engine that recognises the new robots meta tag.