The 'old-fashioned' way of teaching subtraction was by 'equal addition'. By adding 10 (in the units column) and one (in the tens column) you were effectively changing the sum to one where both the numbers were ten bigger than you started with.
The 'new' way of doing it is by 'decomposition', whereby the numbers in the sum remain the same but are simply written differently. Consider, for example, the sum 62 - 35. In order to accomplish the calculation, 'six tens and two units' is rewritten as 'five tens and twelve units'. i.e. Ten is added to the units column and one is subtracted from the tens column. (Meanwhile the other number, 35, remains totally unchanged).
In the example you've chosen though (600 - 426) there's a bit of complication because when you add ten to the units column (of the number 600), to change it from '0' to '10', you can't knock one off the tens column (since it's already zero). Instead you need to look at the next digit to the left and realise that six hundreds is the same as sixty tens. So you then knock one off the 60 to change it to 59 tens.
Written out:
http://oi66.tinypic.com/s3erzk.jpg
It's not really a 'new' method though. I was brought up on 'equal addition' but I first encountered 'decomposition' on my first teaching practice in 1972!