We got a little video of this bike at Interbike’s demo days, but to be honest, looking at it doesn’t do a ton to explain how the Magic Link works. This video helps a little.
Basically, the Magic Link connects the bottom of the main shock to the frame, adn the chainstay pivots on the Magic Link. While seated and pedaling, the geometry is a little taller for better pedaling…while descending, the angle slackens and the chainstay length increases (as well as the travel) for a more responsive ride. Basically, it’s technological magic, and you can see how it really works by clicking here, then select “Videos” (there’s no direct link) and watch the Theory one. If you’re mechanically inclined, its pretty interesting.  Our Interbike post on Kona has detailed pics.