Awesome is a word that means inspiring wonder or terror in the degree of something divine, otherworldly, or of royalty. Sometime before the 80's it became a slang term that took on a lesser form of its original meaning; i.e exciting or good.
The audio in the video is in the Japanese language. I do not understand it well enough to know what the narrator said, but I know someone who does, and is also interested in this game. He is not a Japanese linguist, so the translation may not be 100% accurate, hence the term "rough" before the word "translation".
During the video there are places where they single out each character separately and the enemy in a dual-flashlight-like highlight , each character does an individual action that acts together with the other party members, or turns into a bigger simultaneous attack, kinda like Tales of Symphonia for the GC, other games in that series and other Action Role Playing Games*. To me however it seems like the battle system is a significant upgrade allowing a much more seamless use of all characters and their skills all at once. This reminds me of the how in turn-based Role Playing Games--in which each side, and each character takes separate turns selecting attacks, defenses, and other actions--battling is done with all the characters fluidly. In those types of games it is much easier to coordinate characters moves and do "super" moves because the action is paused while you are strategizing and implementing your attacks/actions, yet this games seems (from the video) to do it very well despite being an Action Role Playing Game*
*Action Role Playing Game is usually abbreviated to ARPG
edit: used a $ instead of a %