Here is a quote from another source that I believe explains things:
OPTO is supposed to mean 'opto-coupled', where the throttle signal is coupled into the ESC via a light beam. The idea is that there is no direct electrical connection between the receiver and the business end of the ESC, therefore stopping electrical inteference from travelling down the wiring into the receiver.
However there quite a few 'OPTO' ESC's available that don't have an opto-coupler, and should really just be called 'No-BEC'. For most applications these work fine. If you have a 2.4GHz radio then interference won't be a problem, and if you connect an external UBEC to the motor battery then it bypasses the opto-coupler anyway.