The Short Answer

At least one app is repeatedly querying WiFi for signal strength, and it's chewing up a lot of battery life.

The Longer Answer

1. What is RSSI

RSSI stands for Received Signal Strength Indication. It is a measure of the power present in a wireless signal. RSSI queries are made each time the wireless driver tries to determine reachability. You can learn more about it here:

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

2. Why So Many RSSI Events?

In this case, a WiFi RSSI driver is caused by querying for reachability - basically, trying to find out if a wireless connection is available.

There are numerous cases of poorly-written apps querying for reachability/connectivity every few miliseconds. You can find examples that query too often all over the web. I'll just put up one here:

http://forums.coronalabs.com/topic/33356-check-for-internet-connection/

3. Impact on Battery Life

Apple's documentation is very explicit about radio usage. The more you use the wireless radio in the phone, the shorter the batter life. They go so far as to say:

Minimizing radio usage is especially important when developing an app for an iOS device, because radio usage has an adverse effect on an iOS device’s battery life.

(Source: https://developer.apple.com/library/ios/documentation/NetworkingInternetWeb/Conceptual/CoreBluetooth_concepts/BestPracticesForInteractingWithARemotePeripheralDevice/BestPracticesForInteractingWithARemotePeripheralDevice.html)

4. What You Can Do About It

There are several steps you can take if this is shortening your battery life:

1. Use the logs to determine which apps are abusing the radio and remove them.
2. If it is an app you have written, carefully look for any repeated calls to the web, especially reachability or signal strength calls.
3. If the app is not your app and you must keep it installed, use airplane mode when you can to conserve battery (the LEAST desirable option).

Hope that helps!

I'm effectively copying my reply from jailbreakqa.com in http://www.jailbreakqa.com/questions/256971/too-frequent-rssi-event-from-driver

"Being plagued by other issued alongside the aforementioned rssi thing this time around I semi-restored back to iOS7.1.2 and set up the phone as new with the same AppleID as suggested by theiphoneguy above (keeping a backup of my SMS and photos database). Surely three days in the fresh install already the previous rssi issue seems to be now gone for good and I'm enjoying a rather clean activity console with not many things populating it apart from the usual noise..Only considerable downside to it was that I had to waste a full day bringing the system back to speed with the installed tweaks and settings as I am now on a complete 'fresh' install with no references back to the old backups...

...that and the fact that whatever happens I can't seem to be able to make iCloud tabs work (deleted and reisntalled iCloud, disabled safari within iCloud and restarted it to no avail.). In all this seems to have made my device quite a bit 'snappier', too (probably since my old backups dated back to iOS2 :D )...quite pleased with current status, however quite a bit of hassle, can't really suggest that anyone goes down this path.. :/ "

I know this does NOT qualify as an answer per-se, but may serve as evidence for others having the same issue in the future.