It has the "ClarityScreen" like the new Kobo Aura. But it does not work as well as I hoped : it flashes more gently when turning pages, but it is nowhere as smooth as going into the 1-bit black and white mode on my PRS-T1. At least it is a step in the right direction, as can be seen in that video comparison between the Aura and the Aura HD :
https://www.youtube.com/watch?v=dMu1PY1NDCw
But clearly, I prefer my PRS-T1 the way I use it.