IF you want to alter the block view you can try hook_block_view_alter
Refer to menu block alter example for an example
http://api.drupal.org/api/drupal/modules%21menu%21menu.module/function/menu_block_view_alter/7
---UPDATE---
function hook_aggregator_process($feed) { foreach ($feed->items as $item) { mymodule_save($item); } }
Check out the docs at http://api.drupal.org/api/drupal/modules%21aggregator%21aggregator.api.php/function/hook_aggregator_process/7
Also enable the aggregator settings at admin/config/services/aggregator/settings
----UPDATE-----
Also if you just want to override the item list then you should use themename_preprocess_aggregator_summary_items(&$variables)
and check for 'summary_list' this holds the items list. For more details refer to template_preprocess_aggregator_summary_items
in the aggregator.pages.inc
file.