If you're not using SVN, there's no obvious way to load a multi-module POM into continuum.
If you point it to a M2 repo, then the child module paths are all resolved relative to the parent's group/artifact/version/ directory, which doesn't work (parent-group/parent-artifact/parent-version/child-module-name/...)
If you point it to a file:// URL it doesn't work because that's disabled by default.
If you're using CVS, there is no clear way to get the POMs into the web – perhaps exporting the whole source tree onto an HTTP server, but that's going to be manual.
Ideally, you could point Continuum to the parent POM in the M2 repository and it would check out the tree to access the child POMs, which would avoid this whole issue.