This is for RHEL 5.6. I am trying to search through the documentation from Red Hat's site and nothing is coming up about what this service is or what it does. Does anyone know what "pand" is? The closest I can find anywhere is that it may have something to do with bluetooth ad-hoc networking. I'd appreciate it if anyone has any better ideas.
Have you looked at the man page?
You can do:
to find out which package provides this program (bluez-utils).
You can then look at /usr/share/doc/bluez-utils-3.7 (current version on my system). And using the pointers contained in the files go from there to find more information.
I'll presume google searching would also turn up something as well.