The article is heavy on 'art' and low on factual detail. If you take a CD, grab it into your DAW at 44.1, 16 bit and then make it mono, you can then convert it to a different format, and merge the two. If you invert one, then the common elements cancel, at least partially and you get all sorts of weird and wonderful sounds. If you make tiny shifts in time, then the phase sounds get more or less. I'm not convinced that what you are hearing is really the 'lost' data at all, just artefacts of the nulling process. you can get odd stuff too if you take a track compress it heavily and then do the same trick - the result could be described as being what the compressor 'removed' - like "Recover your missing Dynamics".
pseudo-science based on analysing a result without knowing exactly what happened.
EDIT TO ADD
Try it with 80's synth heavy stuff - very interesting.