A Megastate represents the quadrature state of the A and B channels of an incremental encoder. For example A high, B low. There are four megastates per cycle of the A or B channel.
Megastates/secs can be considered as counts/sec – an industry standard term to specify the combined rate of edge transitions on the A or B channel.
Drives and controllers are typically specified by maximum encoder frequency – counts/sec or in the case of Celera Motion encoders, megastates/sec.