WPPP overrides WordPress default implementation by using the override load textdomain hook.
The fastest way for translations is using the native gettext implementation.
This requires PHP Gettext extension to be installed on the server.
As second WPPP features complete rewrite of WordPress MO MO dynamic.
WordPress implementaion loads the mo file right after call to load textdomain, whether any transaltions from this textdomain are needed or not.
It doesn't load mo file until the translation call to that specific textdomain.
And it doesn't load the mo file either, only the translation.
the search for translation is slower, the vastly improved loading time and reduced memory foot print in performance gain..
When using MO dynamic with activated caching, translations get cached using WordPress Object Cache API.
All this is to reduce cache size, which is very limited on many caching methods like APC.
Read more