Most of it is not relevant to Windows Phone, relating to the desktop and Windows RT apps.
What is of note though is that the first mention of a Windows Phone update is only in April 2014, suggesting Office for the next version of Windows Phone will be similar to the current one, much like Office for Windows Phone 8 is very similar to Office for Windows Phone 7.
See the roadmap below.
Gemini Wave 1.0 (October 2013): Windows Blue app updates
Gemini Wave 1.5 (April 2014): Office for Mac; Office RT refresh; Perceptive Pixel support; Windows Phone support refresh
Gemini Wave 2.0 (October 2014): Outlook RT; Office for iOS/Android
Previous job posts have however suggested we will see touch improvements for Excel for Windows Phone, but I suspect we will not see much more until next year.
Read more at ZDNet here.