I've just read the following
The basic unit ("neuron" i) performs the following computation to update its state $y_i$: it computes a weighted sum $v_i$ of its inputs $x:j$ which is passed through a sigmoid squashing function $g ( \cdot )$.
Source: Design of a neural network character recognizer for a touch terminal
I know what a sigmoid function is, but what is a sigmoid squashing function? I have also seen this in the PyBrain documentation.
Fix a reference measure $\mu$.
A sigmoid function $\sigma_0$ is a essentially-bounded map from $\mathbb{R}$ to itself. I.e.: $\sigma_0 \in L^{\infty}_{\mu}(\mathbb{R})$.
While a squashing function $\sigma$ is a sigmoid function satisfying $$ \operatorname{ess-sup}|\sigma| \leq 1 , $$ thus, $\sigma \in Ball_{L^{\infty}_{\mu}(\mathbb{R})}$.
Practical Lingo:
In practical terms, if $\mu$ is the Lebesgue measure, then $\sigma_0:\mathbb{R}\to [m,M]$ for some $m\leq M$, real numbers, while $\sigma:\mathbb{R} \to [-1,1]$.
I think this paper has a rigerous definitio (under the additional assumption of continuity). While this paper hints to the non-continuous version.