It sounds like they may have just moved the control for that from the OS to the keyboard controller.
It sounds like they'll tell you to install some "driver" which really is a program monitoring these hotkeys and adjusting OS settings. USB isn't designed for hardware-based repetition and doing it anyway would require the keyboard to repeatedly pretend that the key has been released and pressed again - something that would interact unpredictably with OS repetition and break any games which wait for some key to be pressed for some specified time.
Not really sure how that fits into gaming though.
It doesn't. If games cared about repetition, you could make your character outrun others by increasing repetition rate. Pro hint: it isn't worth trying, I haven't seen such game in a long time.
What games care about are key-down and key-up events, which BTW would get messed if they really tried to do hardware repetition on USB.
It's a rather pointless gimmick.