The Release Candidate 2 has a complete new system of permissions. We've included a new database which makes managing the server more complete and easier than ever. All editing actions are done in realtime and the changes you made to a server will reflect instantly in the client (like server name, welcome message and permissions).
Most important is the ability to change the permissions on a per status basis (server admin, channel admin, operator, etc.) so you can set the server up with the maximum of flexibility and completely to your needs.
Please note
As TeamSpeak 2 development has stopped with RC2, the permissions system is not perfect. Some of the flags you find in there are not yet implemented or at least don't work like you would expect them to work.