Dennis,
To my knowledge, Kubota is the only one using this terminology. All it means is that there is no position control. Move the lever to the rear and the lift arms raise until you return the lever to the center. Likewise, move the lever forward and the arms drop until you return to center.
The 1/4 inching deal is nothing more than a stop or notch that the control lever hits on its way forward or back. If you go to this notch and then let go of the lever, it will move the arms up or down a little bit. About 1/4" or so. Thus the name.
This is so much harder to explain than it is to demonstrate. But I don't know how else to describe it.
I had this feature on my last 2 Kubotas. It is a downgrade from position control and saves you a little money on the purchase price.
KB