It's binary with the central dot/ding being the leading 1 and then toward the right
a ring is 0
a ring,ding is 1
The ring represents a doubling of its contents.
The special case for the leading bit could be avoided by always having an innermost empty ring. That would also give you a better (i.e. visible) representation for 0. The addition rule ensures that you always have exactly 1 leading 0.
It's not binary because all of the intermediate results shown during the videos are also valid numbers. It's actually an (upside down so as not to spoil it for anyone) ˙ǝuo ɟo uoıʇıppɐ ʇuǝsǝɹdǝɹ sʇop ǝɥʇ puɐ 'oʍʇ ʎq pǝıןdıʇןnɯ sʇuǝʇuoɔ ǝɥʇ ɥʇıʍ sısǝɥʇuǝɹɐd ʇuǝsǝɹdǝɹ sǝןɔɹıɔ ǝɹǝɥʍ uoıssǝɹdxǝ ɔıʇǝɯɥʇıɹ∀
It's binary in "fully reduced" form, what's interesting are the graphical rules for addition, multiplication and reduction.
(They correspond to things you can do with the expanded algebraic representation of a base-2 number, Sum a_k 2^k, but that's a necessary prerequisite for such a number system to work. After all, a way of writing numbers that did not ultimately correspond to the existing ways of writing numbers would be wrong.)
For addition I can see the binary addition at work. The ding "carries" if it get put in a ring that already has a ding by getting its own ring etc... For multiplication I just WAT
Anyone know where to find a rigorous maths treatment for it?