It shows how a picaxe micro-controller can be programed directly (without any board) via the serial port of a PC.
Is such a thing possible with Atmega chips?
That's possible because those chips are RS232 torelable and they have a bootloader.
Atmega do have bootloaders too, but they need a max232 for voltage shift (RS232 to TTL) or they get bricked (haven't read datasheet though).