When I was stationed in LA, my neighbor grew his own worms for fishing. He used potting soil, insectide free, coffe grounds and cornmeal in an old fridge. He would feel the soil every day to make sure it was damp enough. When he bought worms, he'd dump them in the fridge when he was done fishing, although he seldom bought worms.

My dad raised worms to re-sell he used crushed corn, cormeal will work as long as the salt content is not too high

The reason that they can live on corn meal is because they also eat their bedding so the corn meal is just the top feed. Unless you are getting free corn meal there are cheaper (free) feeds for worms. Newspaper, cardboard, leaves, grass clippings, plant material, garden waste, and compost.

Although corn meal supports the growth of Trichoderma (a genus of mold), horticultural grade corn meal is actually employed as a fungicide by organic farmers. Evidently this is because Trichoderma is a friendly mold that attacks disease fungi, and is thus a biocontrol agent. But since vermicomposting greatly benefits from fungal decomposition working in conjunction with worms, it is unclear to me whether or not the corn meal would inhibit the beneficial decomposition by fungi there. There is at least one expert who actually advises the addition of corn meal into compost tea.

References
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http://gardening.about.com/od/naturalorganiccontrol/qt/Cornmeal.htm

http://www.orchidgeeks.com/forum/orchid-care-cultivation/9592-using-cornmeal-as-an-organic-fungicide.html

http://forums2.gardenweb.com/forums/load/organic/msg0321115313175.html

http://turfgrass.com/ubb/Forum10/HTML/000114.html

http://www.dirtdoctor.com/view_question.php?id=204

http://www.mold.ph/trichoderma.htm

http://en.wikipedia.org/wiki/Trichoderma

Their main page http://faq.thekrib.com/ says "we would appreciate hearing of any inaccuracies".

The worm page appears to be instructions for earthworms not composting worms so I would have no idea if they are right. On the other hand no distinction between earthworms or composting worms is made. The importance of keeping the medium wet is the corn meal will dry things out.

It would break my heart to have to watch the sad look on the corn meal stuffed cheeks of my worms faces while throwing away or worse yet committing the portable water wasting sin of insinkerating juicy mellon rinds.

Somewhere along the line the paged seemed to of slipped from the instructions for growing worms with the growth rate results of tribbles.

The krib page appears to be a lite starter page for those interested in the topic and not the final word.

With a title like krib I expected the web page to be about kribensis. I suspect many vermicomposters are previous fish enthusiasts. The kribensis types are certainly facinating and fiesty fish to watch especially with live food in the tank.