If you've ever read the theory of K.G. Jung and his "collective subconsciousness", you'll find it easy to understand their theory of "collective awareness". But they have completely different method of reaching subconscious part of humankind: not by analytical psychology like Mr. Jung did, but simply using the greatest collection of human thoughts: The Internet.
Here is how: they let the web bots (web spiders) crawl the Net for fresh information (Like this forum and zillions of other websites) and let the crawler store harvested records to their computer. Now, the next step is analyzing records and searching data for fresh the trends in expression.
Comparing the trends with the major events that happened during the development of the Web Bot Project, they found out that certain terminology is statistically correlated with adequate events - with high significance. This terminology is what they call "predictive linguistics".
At first, the used predictive linguistics to forecast the trends at the stock markets. They did it (and still do with great success). However, they have noticed that the records they gather from Net can also predict some major events like 9/11, Hurricane Katrina, wars here and there...
This was the shortest possible description. Anyway, for more details - here is great link where you can download pdf. file with the predictions for 2009: