Yeah, a normal bit can be either a 0 or a 1. Computers work by processing those 0's and 1's, adding them, subtracting them, manipulating them in various ways. However all those operations happen sequentially, one after the other.
A quantum bit (qbit) however, can be 0, 1, or a superposition of both (be a 0 AND a 1 at the same time). So imagine a computer where all possible states exist at the same time (including the answer you want), then when the system is observed and collapses you get the info you want. Rather than millions of years of clock cycles to break some cryptography, you only need one.
That's of course insanely oversimplified, but gives an idea of the power of a quantum computer.
I'm highly skeptical that these guys have anything to show, but if they do it'll be VERY interesting.
http://en.wikipedia.org/wiki/Quantum_computer