This theme is a base theme for Moodle, which introduces some new concepts and which takes advantage of some new technologies like HTML5 and CSS3.
On the top of every Moodle page, this theme introduces a user bar which provides users with several menus. Each of these menus contain information about the current user courses, activities, notifications, events, messages, settings, and others.
Besides that, this theme is related to two new Moodle local plugins, which introduce the Institutions (https://moodle.org/plugins/view.php?plugin=local_institutions) and the Applications (https://moodle.org/plugins/view.php?plugin=local_applications) concepts in Moodle. On the user bar a menu for each of those concepts is displayed. Those menus allow the users to access institutional or applications web pages, respectively. Both the institutions and the applications pages can be accessed without leaving Moodle.
Furthermore, this theme is also related to a new Moodle block plugin that introduces a chat service for Moodle that is available for everyone, a bit like Google Chat or Facebook Chat (https://moodle.org/plugins/view.php?plugin=block_gchat).
Since the user bar contains a lot of useful information, the blocks are no longer required in some contexts. For example, when embedding a page, Cubic uses all horizontal and vertical space leaving only the user bar in the top.
Finally, this theme also provides a settings page where you can change several properties like logos, colors, system name, and others. On this page you can also remove the institutions and applications menus from the user bar in case you don't want to use them.