So, lets discuss it. What is it? How does it work? Is it always the same thing with different names depending on manufacturer?
This is a complex and technical subject. Better for anyone with a real interest to start at the beginning with a an optics text like Rutten and van Venrooij, "Telescope Optics". There you can learn the basics of how glass types are chosen and matched to correct chromatic and other aberrations. There is probably similar information online.
There are also many excellent posts at astromart.com forums by virtuoso telescope designer and maker Roland Christen on the subject of ED glass types. Going through his archived posts is an optics education, but unfortunately you have to pay $12 to join Astromart.
Ultimately, however none if that information will tell you what you really want to know about a particular ED binocular. Even if you have lens designing software on your computer you will never be given enough information about the glass types and design of any ED binocular to make a good prediction about it's performance. So, let me modestly recommend some tests shown on the thread below which will show you exactly how well chromatic aberrations are corrected in any binocular.
http://www.birdforum.net/showthread.php?t=134310
Henry
And of course search for Abbe number here ... most of the threads that have said something interesting have abbe number in them!