Mod = modulo. It's a system of counting where the numbers repeat themselves every certain interval. For example, clocks count mod 12 - they don't count the exact number of hours that have gone past since the first time it was ever 12 o'clock, they count it since the last time it was 12 o'clock. So any number n = n ± km (mod m). For example,
0 = 4 = 8 = 12 = 444 = -16 (mod 4). (It often helps to visualise it in this 'clock' way, but starting at 0, not 12. So counting up from 0, mod 12, would go: 0, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 0, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 0, 1, 2, ...)
This type of arithmetic often helps to test for divisibility. Since the natural (counting numbers), mod 4, can easily be written:
0 1 2 3 0 1 2 3 0 1 2 3 0 1 2 3 0 1 2...
(0 1 2 3 4 5 6 7...)
then it's obvious that any number n = 0 (mod 4) is divisible by 4. For example, 4 = 0 (mod 4), and 4 is divisible by 4. 27 = 1 (mod 4), so is not divisible by 4 (and will, of course, leave a remainder of 1). What Gaz said is that anything divisible by 60 will be divisible by 3, 4 and 5, and hence xyz = 0 (mod 3), xyz = 0 (mod 4), and xyz = 0 (mod 5). He's proven xyz = 0 (mod 4) [for] for you - now try it for mod 3 and 5.
http://en.wikipedia.org/wiki/Modular_arithmetic probably gives a better explanation than me.