The First bit looked like some pretty standard muscle reading. You can get that in Banechek's dvds. http://www.penguinmagic.com/p/S4628
The cold reading he did wasn't bad for an amateur but most of it was just a battery of Barnum statements all strung together. I am personally trying to step out into some really cool CR techniques. I can't really chat about it because it is unreleased material and I am unfamiliar with some of the proir material that it builds on. Suffice it to say that this chap should start taking some more risks. Sure you miss but just like in that video enough hits that that is what the spec remembers. And when it hits it hits really strong. Basically....a miss is a miss. If you are going to take enough of a chance to be willing to deal with a miss...why not take it on something that could have hit really strong.
Ie. You miss telling a guy, "You are a kind of orderly person but sometimes your life gets so busy that things become very disorderly and you struggle to put things right."
You miss telling a guy that, "when you were a kid you had a dog named Max."
If you get enough hits on the other stuff then at the end of the performance the spec registers the two misses at the same level. Sure he missed twice but he hit 8 out of 10 times! But if you hit on one of those two statement the second will be so much stronger that the first.
ie. "Wow he really pegged my personality well....that was cool."
or....."HOLY CRAP! He knew the name of my flippen dog! That is absolutely NUTS!"
So in short....a spectator will grade a miss the same but they weight hits very differently depending on how specific they are.