The effects in that vid look like things that have been possible to do in Quartz Composer for a while now. The four features it listed are things already present in M8, which I'm guessing is directly based on the Quartz engine...
Maybe Apple will post some documentation on exactly what it means.
"Just because no one understands you doesn't mean you're an artist" -- Anonymous
it's a bit more advanced than just core image or core video, it's a mix of every core things that makes it easier to code.. it more a programming tool than a production tool... for exemple, time machine has been designes with core animation with half line of code than wuth core video and core image