Yeah, that vid is kinda weird. The only thing it really showed was a lot of startup on the grapple (as it didn't instantly go into the grab animation when the move was attempted. He has a "wind up" start time).
But no, Autoguard itself is the ability to take hits while beginning the move. As Aenthin pointed out, Ralf only had upper body (could absorb hits above the waist), which the vid didn't show (he didn't get hit).
At 38 seconds in, you see Clark's new Autoguard SAB. It's made of 2 portions: "Throw out arms" and then the regular SAB body toss.
The "Throw out arms!" part he does, before the grab and toss, is where he has the guard. His C version grapple is the same instant-grab that we all know and love.
It's very rare in KoF, for anyone to get full body autoguard. Even Maxima, the master of Autoguard / Guardpoints, doesn't have any full-body ones without EX. It's a pretty big buff to Clark, really... He'll be able to absorb fireballs people chase after, and throw the attacker, counter quick-travel moves like K' "SHADAAAA!" Kick with a little anticipation, eat air dives, absorb multi-hit close normals, stop low / high mixups, and absorb DMs / EX DMs / Neomax's with no damage. Twitchy counter opponents who try to jab out of blockstrings will be defeated as soon as the match starts, lol.