You're not the only one confused by that. I wrote SM and asked what the hybrid was and got this answer:

"The "Hybrid DvD" is the physical product with an installation for both Mac and Windows.
When purchasing the Hybrid option you do not get a downlaod for the program.
If you need to purchase the Hybrid CD and are still having problems, our sales team can take your order over the phone.
831-768-3615 M-F, 8am - 5pm"