As far as what it is:
Frequency band and the respective boost in dB (on the rightmost column).
As far as what is it then I dunno
But let's drop the beats topic, we're not here to bash it.
That said, saw a classmate with a REALLY weird looking pink&orange&light blue headphones... Might be the colors that made it weird. Kind of looked like a Skullcandy but I didn't see any skulls on it.