It's a superconductor - a substance which, if you cool it enough (hence all the dry ice) achieves an electrical resistance of zero. Not almost zero, but actually zero, meaning electricity can pass through it perfectly with no dissipation of energy whatsoever. They can do very groovy things when put next to magnets, as seen in the video.
It's a nice demonstration that quantum theory, for all the unintuitive nonsense it seems on paper, actually has tangible effects on the larger-scale universe.
Bose-Einstein Condensate is my favourite quantum mechanics macro-effect. If you supercool it, it acheives a viscosity of zero, which means that if you get a beaker of it and chill it down enough, it'll suddenly 'de-beaker' itself as it acheives the correct temperature and climb/flow up out over the sides of the container.
A couple of people posted the same thing on my facebook, but I didn't click on the link because I just assumed it was nonsense. But it's actually an amazing thing to witness.
Liquid nitrogen. It's -200 celcius, which isn't even enough to make most materials superconductive. The demonstrated material is one of the only known ones that are superconductive at -200 celcius, normally they have to go quite a bit lower, actually almost down to 0K.
We played with levitating an ordinary magnet above a fixed superconductior when I was at uni, but I've never seen the thing with the moving superconductor above the circular magnetic track before, that's awesome