Attention and memory for everyday experiences vary over time, wherein some moments are better attended and subsequently better remembered than others. These effects have been demonstrated in naturalistic viewing tasks with complex and relatively uncontrolled stimuli, as well as in more controlled laboratory tasks with simpler stimuli. For example, in the attentional boost effect (ABE), participants perform two tasks at once: memorizing a series of briefly presented stimuli (e.g., pictures of outdoor scenes) for a later memory test, and responding to other concurrently presented cues that meet pre-defined criteria (e.g., participants press a button for a blue target square and do nothing for a red distractor square). However, rather than increasing dual-task interference, attending to a target cue boosts, rather than impairs, subsequent memory for concurrently presented information. In this review we describe current data on the extent and limitations of the attentional boost effect and whether it may be related to activity in the locus coeruleus neuromodulatory system. We suggest that insight into the mechanisms that produce the attentional boost effect may be found in recent advances in the locus coeruleus literature and from understanding of how the neurocognitive system handles stability and change in everyday events. We consequently propose updates to an early account of the attentional boost effect, the dual-task interaction model, to better ground it in what is currently known about event cognition and the role that the LC plays in regulating brain states.