camelCase is an extremely popular naming convention among javascript libraries:
http://google-styleguide.googlecode.com/svn/trunk/javascriptguide.xml#Naming
The features are to do with Javascript, HTML, CSS support in browsers, as different browsers support different things.
You can find the documentation here with explains the jQuery side of things:
http://api.jquery.com/jQuery.support/
You can also find more information in a similar project with more of a aim on HTML5 support:
http://www.modernizr.com/docs/
Whether or not you should care on the support status entirely depends on who your userbase is! I use google analytics with modernizr to track the status of features I care about, so I can develop for my users taking into account their support accordingly.
You can see the code to do the tracking right at the bottom of the view source of http://www.balupton.com/sandbox/jquery-lightbox/demo/ but here it is:
<!-- Google Analytics -->
<script type="text/javascript">
//<![CDATA[
var gaJsHost = (("https:" == document.location.protocol) ? "https://ssl." : "http://www.");
document.write(unescape("%3Cscript src='" + gaJsHost + "google-analytics.com/ga.js' type='text/javascript'%3E%3C/script%3E"));
//]]>
</script>
<script type="text/javascript" src="./scripts/modernizr-1.5.min.js"></script>
<script type="text/javascript">
//<![CDATA[
try {
var pageTracker = _gat._getTracker("UA-4446117-1");
pageTracker._initData();
pageTracker._setCustomVar(1, "html5.boxshadow", Modernizr.boxshadow ? "yes" : "no" , 2 );
pageTracker._setCustomVar(2, "html5.multiplebgs", Modernizr.multiplebgs ? "yes" : "no", 2 );
pageTracker._setCustomVar(3, "html5.fontface", Modernizr.fontface ? "yes" : "no", 2 );
pageTracker._setCustomVar(4, "html5.csstransitions", Modernizr.csstransitions ? "yes" : "no", 2 );
pageTracker._setCustomVar(5, "html5.borderradius", Modernizr.borderradius ? "yes" : "no", 2 );
pageTracker._trackPageview();
} catch(err) {}
//]]>
</script>
You can also see the global browser implementation status here:
http://en.wikipedia.org/wiki/Comparison_of_layout_engines_(HTML_5)
jQuery implements $.support
, as say for example it can detect if the browser supports getElementsByClassName
which is a lot faster than performing the search manually.
Hope that helps mate!