From Glen Fryxell's article, we learn that it is a rifling technique in which a large number of shallow grooves are impressed into the bore. My .45-70 Handi Rifle has a microgroove barrel with 16 shallow grooves in the barrel, as opposed to conventional rifling, which has 4 or 5 fairly wide grooves.
Marlin used Microgroove barrels for many years, including in most of their popular .22 rifles. There are advantages and disadvantages to each type of rifling, and adherents for each type.
Generally it is reported that cast bullets don't perform well with micro-groove rifling. For this reason I avoid microgroove centerfires. But rimfires are a different story. Marlin .22 microgrooves tend to be excellent for accuracy.
It is true that fact is generally reported, but with just a little knowledge of your bore, you can make microgroove barrels shoot well with cast bullets. Sometimes microgroove barrels were cut a little large and as the grooves were a little small, it all worked out with jacketed bullets. As with conventional barrels, so goes microgroove. Size your bullets one thousandth or so over groove diameter and most microgroove barrels shoot cast bullets just fine.