Ah, nickel boride is a good one. As far as I know, it is generated in situ prior to use. I think that Aldrich sells Ni2B however, and that can be used in combination with other reducing agents like (MeO)2BH. It has a number of different uses: reduction of alkynes to alkenes, enones to ketones, conjugated dienes to mono-alkenes, quinolines to tetrahydroquinolines, aromatic nitro groups to amines, and of course some sulfide cleavage reactions.
I've never seen anything on the specific mechanism, and it's probably very complicated because of the uncertain nature of the actual Ni/B mixture (Ni2B just describes the relative stoichiometry, not really the complete composition of the reagent, which is probably a higher order polymeric cluster). My guess would be that you form a small amount of nickel hydride which then complexes to the sulfur in the substrate and exchanges (H for S) to the nickel sulfide and the reduced substrate. An additional reduction of the nickel would for a RS-Ni-H complex that could then undergo reductive elimination to the RS-H compound. I haven't seen any mention of the final S containing species so I don't know if it goes all the way to H2S or if the S remains adsorbed onto the Ni surface.