That simply means that 1 board runs with 10 power phases for the cpu, and 2 power phases for the igpu. Or 12+1. More power phases means that the voltage going to the cpu through the VRM's theoretically should be cleaner and lead to cleaner and more stable OC. Some also believe since there's less actual workload per VRM that there's less heat generated vrs a lower number phases, but also consider that there's more of them.
10 or 12, honestly not that mu h difference either way, but technically the 12+1 should have a better chance at higher OC of being more stable. But by higher OC, you are talking absolute maximums, 5.3GHz or better etc not your standard normal OC.
With modern boards, good psus etc you are more likely to run into cpu...