Yes they are using a film analogy. For each converged increment there will be a set of results that can be looked at in the viewer so you can see how the results, e.g. stress, develops with increasing load. You can also play the frames one after each other to produce a film!
It gives a chance to closely observe how the response of your structure/material is changing gradually. You can also manually control the number of frames.
It's very useful to show the change in the behavior with the load path ..... may can help you to see approximately at which stage of loading your focus is happening
it's great for presentation ..... just record a film and present