This very beta new feature allows people you follow to reply to your posts. So far, this feature only works from the Dashboard and only on your primary blog. Some big updates are on the way. 🙂
You can enable it by checking off Customize → Advanced → Enable replies.
To whoever’s passing this around: this post is from a few years back, when Tumblr first instituted replies. So, no, Tumblr didn’t fix what they broke, and this is just a sad reminder of what we’ve lost 😦
Aw, DAMN IT. I guess that explains why it’s not a choice on mine. ARGH, tumblr. ARGH. Thanks for letting me know, though!