The name is "No Remake" as it is a remake; much like LAME (an mp3 encoder) is called "Lame Ain't an MP3 Encoder". The most recent addition to the engine is having "special effects", where objects can dissolve in real-time.
The effects are all generated using the same shaders. It runs on OpenGL 3, but the effects would run on 2.x too as they only use vertex and fragment shaders. They appear on the shadow maps too, as you can see.