We have released the new version of FV Player - 184.108.40.206. Although it had some initial problems, they are now all resolved with the update 220.127.116.11.3 and you can dive right into the new features.
MPEG-DASH (Dynamic Adoptive Streaming over HTTP) is a technology similar to Apple's HLS, that allows streaming of data with adaptive bitrate. The principle is the same - the video file is broken to a small fragments of data, that are served one by one to create smooth playback. Each one has various qualities that switch automatically to deliver best quality possible in the given network situation.