Chris
Backup Exec 11d does B2D in a very similar way as version 9. Main difference is that whith version 11d you can preallocate the size of the bkf files on disk, losing space but also getting no fragmentation as before.
What you say, that is, the ability of backing up just the modified portions of the files, is not performed by Backup Exec, but by an add-on product, Continuous Protection Server, or CPS. It is a replication software (based on Veritas Replication Exec), that you can license as an option to Backup Exec and sends data over any network in the way you said (even it lets you manage the bandwidth to be used).
Synthetic backups are a technology implemented with the Advanced Disk Based Backup Option (ADBO) that basically let consolidate a full plus incremental backup into a new full, without accesing the agents on the networks and thus faster than a full backup would take.
Hope this helps, regards