That's not far off. Basically, it uses the 'you go - we go' system, as opposed to the 'you go - I go' system of traditional turn based games. Each player gives orders to their units (kind of like 'plotting' way points and selecting targets, plus lots of other options, such as hide, 'shoot and scoot'). Once both players have finished their plotting they click go and you are treated to a minute long film of action, where your forces try and carry out your orders while reacting to the actions of the other guy's peeps. During this 'movie' you have no control over the proceedings.
To me, it is alot more realistic than the traditional turn based wargames.
The Barbarossa to Berlin version is the sequel to the Beyond Overlord game and has many improvements graphically.