Wow, that is a very cool feature!

It's a minor build.  MM.mm.DDDD

MM = Major build.  A significant feature update.
mm = Minor build.  Typically small but significant feature additions/changes.
DDDD = Daily build.  Users typically don't see these beyond the released daily build number, but this version number is typically indicative of the normal programming process and work that is done on a daily or routine basis. 

Streaming assets from the cloud is posible but he is talking about using less memory so is unrelated, as a reference the cloud cant be used for anything related to the graphics pipeline or the phisics engine, only for slow task like wather and AI.

semantic versioning http://semver.org/

Mipmapping is Mipmapping.  Tiled resources are tiled resources.

You can use mipmaps with tiled resources, but tiled resources deal with 3D geometric shapes, where as mipmaps deal with added detail levels.  Tiled resources takes a geometric image and breaks it down into smaller tiles.  Textures, like those used in mipmaps cane then be applied.  

Because the shape is already broken down into smaller pieces, zooming in and applying a more detailed texture to the tile is easier to do rather than recalculating the geometric image. 

Mipmaps are now standard.  Tiled resources are in limited use.  In consoles, the only systems to use it have been the DreamCast, Xbox 360, PS Vita, and now the Xbox One.  DirectX 11.2 simplifies this process by making it directly available to programmers, rather than having to build tiled resources into their engine.

^^ ow that pretty sexy..

All right. But that was hard for me to understand. I'm too old to grasp technical things in such a short time.

So this will be used in next gen games. That is PS4 games too, right? Will this technique improve performance or does it tax the hardware heavily?

Remember the Mega Texture technique in RAGE powered by id Tech 5? It's pretty much that thing. Carmack FTW!