I think you've got it explained to you in this thread. There really isn't much more to multiband compression than what has been said... atleast not that I know of

Simply said, it's used to get rid of the
occasional irritating frequency in a particular sound.
A simple example would be like, what do you do when you have a
constant hum on let's say 60 hz on a sweet violin track? You can simply go ahead and cut it out, the violin won't really be needing that low frequencies.
And the other side of the example: What do you do when a bass guitar has some
occasional nasty spikes in the muddy 300 hz area, for some reason? You avoid cutting it out since it's just popping out occasionally. You'd rather want to tell your Mband plugin to "Hey, look dude, whenever those spikes pop out, tame them by lowering the volume on that frequency, but when it's over, make sure to bring it back up to normal, ok?".
Don't know if that was a great example but it's something
