WordPress at a glance
filter is not described

loginout filter-hook . WP 1.5.0

Filters the HTML output for the Log In/Log Out link.

Usage

add_filter( 'loginout', 'filter_function_name_7899' );
function filter_function_name_7899( $link ){
	// filter...

	return $link;
}
$link(string)
The HTML link content.

Where the hook is called

wp_loginout()
wp-includes/general-template.php 272
echo apply_filters( 'loginout', $link );
wp-includes/general-template.php 275
return apply_filters( 'loginout', $link );

Where the hook is used (in WP core)

Does not used.