While at first glance, the mid/bass driver appears similar to the previous version of this speaker, it has been redesigned. New is the solid aluminum phase plug. If you've never seen one in the flesh you might think is is simply a cone-shaped dust cap, but it's not.
Unlike a dust cover, a phase plug is not part of the moving mass, but rather is fixed to the stationary motor structure. So, the speaker cone moves back and forth, but the phase plug does not move at all.
The voice coil drives the center of the cone in a piston-like manner. The design of the cone then takes into account the required stiffness, mass and loss characteristics in order to maximize its performance. With a phase plug, you reduce the path length differences about the cone surface, smoothing and reinforcing the frequency response, particularly in terms of the highest frequencies the driver is capable of (in fact, Paradigm tells us the differences made by the phase plug vs. a dust cap can be seen/measured right through the crossover region).
Other potential benefits gained from incorporating a phase plug include eliminating compression under the dust cap (reducing distortion in extreme cases), reducing air flow through the VC gap (which can get quite turbulent in extreme cases and is certainly unpredictable). There is some thermal dissipation one gives up by doing this, but the phase plug itself can serve as a heat sink for the voice coil and magnet pole.
All in all, while it should never be taken at face value as automatically translating into a superior product, a properly designed driver encompassing a phase plug makes a heck of a lot of sense over the established tradition. So, why don't all speakers have phase plugs? It is more expensive to build them this way.