It relies on the CSS3: target selector. The goal is for sections on an html page, for example http://www.example.com/page#section (SO uses them to navigate to specific answers).
When a target is selected, the target pseudo-class takes over.
Here he uses z-index tricks to push sections up and down on each other.
What is the general meaning of this, I do not know the specifics.
Edit -
The cur class does not apply at all. On the right, each panel has all three tabs, but with the class "cur" hardcoded for each panel. Z-indexing raises the entire area, with its tabs, at the top, creating an effect. When in fact it is only 3 divs HTML.
So, there is no magic (outside the whole: the target pseudo-class).
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