Panasonic Singapore describes it as follows: "This system has three major advantages over ATRAC and other conventional encoding systems. First, it uses advanced bit allocation. Second, it assures more precise attack signal detection. And third, it uses high precision quantization technology. The result is an expansive, exceptionally high quality sound with virtually no noise."
What's left out of course is (1) Which ATRAC is it being compared with? (Is it Sony's or Sharp's, and which version?) and (2) Does it actually sound better, objectively? Without published test results it is difficult to say whether Panasonic has made an actual advance, or whether they are simply making the most marketing hay of their effort to develop their ATRAC.