To get a better idea of Microblogging for Confluence, you could watch this video maybe: https://youtu.be/wQgrpaAYFJ8
Yes, the Microblog for Confluence add-on https://info.seibert-media.net/display/landingpage/Microblog+for+Atlassian+Confluence
allows to be used in different spaces and to use several timelines. It's been
installed once and then you can configure it in different spaces. It
could all be the same timeline or different ones, according to
configuration and rights management.
And the plugin is an integrated part of our Confluence-based intranet solution Linchpin, so it could be interesting to learn about Linchpin: https://www.linchpin-intranet.com/