Root
The Root is a contract that will take ownership of the ENS root name in the ENS registry. This allows the keyholders to delegate certain operations to others.
This contract was audited by ConsenSys dilligence; the audit report is available here.
DNSSEC
The main new functionality is the ability for anyone to register a new tld. This can be done by submitting the DNSSEC proof of a specific tld. This removes the requirement for the root key holders to enable classic DNS tlds.