Don't bother too much with it, it's getting patched almost everywhere
(version 1.4.0, they have added server side collision checks, so it pushes you back just like the speedhack)
as for how it works: It searches for the addresses that hold your position and adds/subtracs from then. If you want more, you can download the source code of the wallhack and take a look how it works
source is Autoit, and shouldnt be hard for you to understand since you said you already know that.