CB Blogs doesn't fire that trigger directly. It does a ->store on a Joomla content object, which is what fires the trigger. CB Blogs uses the following.
Code:
$article = JTable::getInstance( 'content' );
Once the data is bound it it calls ->store, which its behavior can be found in the below.
libraries/legacy/table/content.php
This then calls ::store of its parent found below.
libraries/joomla/table/table.php
Which is responsible for the trigger as follows.
Code:
$this->_observers->update('onAfterStore', array(&$result));