The AMD VISION Engine is the name that AMD is using to describe the new features they are offering for users of their GPUs, APUs and those with both.  One example is the AMD Steady Video feature that Ryan and Ken showed off in July.  That is not all, this encompasses the hybrid Crossfire that exists in Llano laptops with discrete GPUs straight through to support for 30bit colour depth (aka 10bit per channel, 10 bit per pixel) and the GPU accelerated Flash. 

If you are interested in getting more from your APU then head to the AMD VISION site to download their driver package, think of it as a Catalyst with benefits.