There’s not enough information here to figure out exactly what they have. However, it may be over-hyped.
Non-linear resistors with hysteresis have been around for a long time, so I’m not sure if there really is anything new.
A thousand to one change in conductivity after a pulse of current so quick they have been unable to measure it, that holds up permanently thereafter, without substaining power, in quite different from a resistor that varies dynamically in its resistance.