The features that you can schedule include Silent mode, Wi-Fi on/off, Bluetooth on/off and Airplane mode on/off. Certain volumes can be raised or lowered to exact levels at specific times on specific days like Notification volume, Ringer volume, Media volume and Alarm volume. You can also have different ringtone and notification tones at different times of the day. Display brightness can be controlled and you can even schedule any app to open at a given time on certain days of the week (although that is experimental right now).
You can download Phone Schedule for free right now from the Google Play Store. The advantage that Motorola's Smart Action has is that it also works with your phone's GPS to allow certain actions to take place based on your location. There has been talk from the manufacturer that Smart Action would eventually be made available for other Android phones already launched from Motorola.
source: GooglePlayStore via AndroidAuthority