|| is an or operator. Your first line reads:
Set the value of b to A.value; if not b (that is, b is nil or false), then set it to line "5".
Salvation allows you to recover due to exceptions. Your second line reads:
Set the value of b to A.value. If A.value throws an exception, ignore the problem and set b to 5 instead.
For an object A without a value method, the first line will crash the application.
For an object A whose value method returns nil, the second line will set b to nil.
source share