The hyperstep is a step that provides its "container" to a track to be played. Confused? Let’s consider a simple note.. assigned to a step – calling it a "note step".
In the basic case the note step will have a pitch, a velocity and a length. With that data the note step will play a note on a sound source.
Now we make our note step to a hyperstep, hence assiciating it with a track.
What happens now is the following: when the hyperstep is played, not the note is played, but the associated track is played, using the step parameters: The step velocity and pitch become the track’s velocity and pitch respectively and the step length determines the time that the track will take to play full. I.e. if the step is 96/192 long, that translates to the track playing twice as fast as normal speed.
Of course, interesting things happen when the numbers are not so "round".
I hope this helps somewhat.