The power of the Stone of Golorr could be called upon to access the aboleth's memory in a similar way as the legend lore spell. This power could be used up to three times, until the stone recharged at the next dawn.
However, knowledge given by the aboleth was fleeting. Once a creature broke the attunement to the Stone of Golorr, there was a chance that any knowledge acquired via the stone, and even possession of the stone itself, was forgotten by the user. This magically induced amnesia could sometimes be removed by a remove curse spell, but more powerful spells such as greater restoration had a larger chance of success.
As the trapped creature inside, the Stone of Golorr hungered for knowledge and did not like to stay attuned to the same individual for too long. It had an alien personality and saw itself as a god. If its user ignored the stone's demands, it could attempt to seize control of the user.
The Stone of Golorr was in fact an aboleth that was transformed into an object. It could be freed if the stone was destroyed via an antipathy/sympathy spell cast with the appropriate parameters. If Golorr were freed in this way, it could go berserk and attack any nearby creatures.
In the late 15th century DR, the Stone of Golorr was used to store the knowledge of the location of the Vault of Dragons, which contained a treasure that had been embezzled by Dagult Neverember shortly before he was ousted as the Open Lord of Waterdeep.