The terms feature has recently been switched on in Succeed and modules that are associated with terms (i.e. all current modules will either be in Spring 2014 or Academic Year 2013/14) have been allocated to that semester. Members of eLD can modify the setting if required.
Terms can be used to organise the My Course panels on the My Succeed page. If you are managing a large number of modules, terms should really help as you can group modules into terms (and hide terms from being displayed).
eLD has written a short guide to using the terms feature in Succeed and this can be found amongst our documentation:
At the moment due to a configuration issue with Succeed it is not possible to upload a new language pack that would switch the word term for semester. Once this issue is resolved the new language pack will be installed. The document above assumes that the language pack is installed.