What is Induction style lighting and how much better is it (if it is) to standard HID or LED?  I was hoping somebody could paint me an understanding of this....new?...technology?

Since induction lamps don't uses electrodes to burn out, and instead uses induction coils to ionise the merucry, they have much longer life. Their efficieny is the same as electroded fluorescent lamps with the same phosphors.

With the LED efficacy vs fluorescents it is not the case anymore, both are in the 100 lm/W range.
The induction is a bit lower than electroded lamp of the same power, but that difference is very small and the smaller size of the induction make the fixture more efficient (total power vs illuminated area at given minimum level), gaining way more than the raw efficacy difference.
The LED's have the same 100..120 lm/W efficacy, plus offer the possibility to design yet way more efficient fixtures.

The induction lamp itself indeed does not have any electrodes to wear, but the phosphor wear and the consequent gas contamination is reducing the efficacy over the lifetime as well. But still the 70% lumen depression lifetime of the lamp is beyond 100khour.
The weakest spot there is the ballast and in fact it is the component limiting the practical life of the induction system.
The main (and only) advantage of the induction is, it is known for quite for some time, so the industry had acquired quite a lot of experience (it is mature technology), which yields the really long life of these.
But as the gear is quite complex, the induction system is very expensive with no prospect becoming cheaper (assuming maintaining reasonable quality level)
But recently many cheepeese makers have entered the induction market, who have utilized the knowledge to just cut costs really to the extreme. And of course, that has it's consequences of way inferior life and mainly reliability.

The LED's are still in their infancy, so the main problem today is the reliability (many makers claim they have solved the reliability issues from the past, they may be right, but these new designs couldn't prove that yet from any real life installation, as they are simply too short time on the market). So LED is still a kind of quality gamble: You may be lucky and get efficient, long lasting and reliable systems, or you may have bad luck and you will service them every other month.

I have seen some induction lights sold on the plant lamp websites as plant grow lamps.The thing I don't like about induction lamps is their makers tout them as replacement for HPS and MH floodlights-the induction lights just don't work for this.They just don't have the brightness and can't be focused as the HPS and MH floods.They are great flourescent lamps.And there is concern that the RF ballasts can cause severe RFI on broadcast and HF radio bands.

To have an induction lamps for plant growing, the regular triphosphors should be changed to phosphors that emits in wavelengths that is suitable for this application.

Plants will grow under pretty much anything that covers their photosynthesis spectrum. The ordinary phosphors are not optimized for best efficiency at plant growing, but they do cover the spectrum the plants need

I've been overwintering some tropical office plants I rescued under MV and they seem fine. In fact, the ones that were neglected before are way better and see thriving.