This is new to me. Why is a two-round approach used and how is that beneficial? Is this for multi-party usage? From what I gather in the demo there is only a single signer with multiple keys?

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It’s for our new feature Taproot-based multisig wallets. You can read more about it in our announcement here: https://primal.net/e/note1lw30vds9um9j3p6qp8fmds67ay9tmu2r0qkta3v3zfas5ljadgvswnm06e

I have 2 of my 3 keys configured as Value Keys. To get the benefit of the Value Keys, do both signatures need to be Value Keys? Or do the benefits only require that one of the two required signatures be a Value Key?