Transitions and revisions are not going away. HQ is simply adding a new category classified as "Large Revisions." Basically, these are sets with no adjacency moves, major fixture changes, or major signing changes (backer paper, shelf liner, etc). There will still be regular revisions, including weekly MMB revisions. The only pogs technically classified as transitions will be the pogs that move to a different aisle or have major fixture and/or signing changes.
The large revision process will follow the same process as regular revisions. You won't de-merch the aisle. You'll just set a new revision and move product around. Seems to be more in line with MMB revisions. Book revisions drastically move items around every week, but you rarely have to move fixtures or signing. It basically saves time because you're not de-merching the aisle.
It wasn't clear whether or not there would be as many adjacency moves as usual. It seems like the yearly major transition for a division will have new pogs whereas the other annual reset where everything pretty much stays in the same place will just have large revisions.
Aisles that are only having a large revision (or I suppose just a revision) will not go MPG. They are not to be PTM'd except for flexing over discontinued outs (the actual rules for flexing).