I didn't see any change in rep when I got upvoted on meta; how does the system work?
No, you don't earn rep on meta. Your rep on meta is synced to B&CG rep each hour and so reflects the rep you've earned there.
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2More correctly, you don't earn rep on meta. Your rep here is synced to b&cg rep each hour. – Pat Ludwig♦ Jun 25 '11 at 2:16