Not sure without something to give us a size referance, It could be a grinding hole where they ground meal, or it could be a nutting hole, or it could be where arock got stuck in an eddy in the creek and over the last 2500 years or so wore out the thing, alotta could be's. Cool though.
The hole is about 8 inches across and about 4 inches deep. The creek that it is on is really steep but there is a deep pool next to the stone. The pool is probably 200 yards above the Allegheney River. Walking the creek is almost straight down except at this point.